Home > Latest News > Myer Struggles Sales Only 0.1 Percent For Q1

Myer Struggles Sales Only 0.1 Percent For Q1

Myer Struggles Sales Only 0.1 Percent For Q1

Myer lifted total sales 0.1 per cent to $691.6 million for the 13 weeks to October 25, compared to a year ago. On a comparable store sales basis, sales were up 0.7 per cent compared to last year.

Brookes said earlier in the year and Channel News reported this here, that one of the reasons for this flat performance could have been the fact the company has been opening new stores and refurbishing others. Brookes argues that now most of this work is completed, the company is in a good position for the busiest time of the year.
“We believe the business is well positioned to make the most of the busiest time of the year during Christmas and the Stocktake sale,” Brookes said.

Consumer electronics was not among the department store’s best performers but solid growth continued in online sales. “The rollout of 1,400 iPads in stores with a customised app has been well received by 
customers,” said Brookes. “With this technology, customers can check on an expanded product range across the physical store network. As well, the rollout of Click and Collect in all stores, has been gaining 
momentum during this first quarter, and it is anticipated this will continue to be popular in the lead up to Christmas.”

 “As anticipated, trading gathered momentum as the quarter progressed, reflecting the recent opening of our Indooroopilly (QLD), Adelaide (SA) and Macquarie (NSW) stores, following major refurbishments and 
the opening of a new store at Mt Gravatt (QLD) in October.

“There are a number of significant initiatives that have been rolled out during recent months, including the customised iPads in stores, the launch of Giftorium, and just recently the exciting re-launch of the Myer brand. We look forward to the completion of the major refurbishment of the Miranda (NSW) store later in November and the opening of our new store at Joondalup (WA) on 20 November 2014,” he added.

In a statement from the Australian Stock Exchange, Myer’s best performing states were South Australia, driven by the opening of the Adelaide CBD store, and New South Wales.