Setback For Lew As Myer Returns To Profit, Names Stephenson Chair
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September 16, 2021
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Solomon Lew has been given a bloody nose at Myer, with JoAnne Stephenson – whose ouster he had sought – named chair... Read More
Egg On Lew’s Face As Myer Does Better Than Expected
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August 12, 2021
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In an embarrassing knock to Solomon Lew, Myer has released a trading update as the billionaire investor has been demanding – which... Read More
Myer Boosts Supply Chain With New Distribution Centre
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July 27, 2021
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Myer is opening a new 40,000-square-metre national distribution centre in Victoria as it looks to bolster its factory-to-customer supply chain and online... Read More
Myer Store Closures Make Way For Online Focus
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March 31, 2021
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Myer is in the process of reducing its bricks-and-mortar footprint, and with that comes the closure of its near-50-year-old Knox store in... Read More
Myer Sales Fall By 13% Despite Millions In JobKeeper & Rent Relief
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March 4, 2021
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Upmarket department store chain Myer endured a painful pandemic sales cycle after total sales declined by 13.1 per cent to $1.388 million... Read More
Myer Directors Slashed, Fees Cut, Following Shareholder Revolt
Following weeks of intense shareholder pressure, struggling department store Myer has bowed to pressure by reducing its board numbers and slashing director... Read More
Lew Reignites Myer Management Assault
Myer majority shareholder, Solomon Lew, has reignited his assault on the embattled department store, with reports suggesting he is lobbying for a... Read More
Myer Slumps To $172.4 Million Loss
Iconic Australian retailer, Myer, has slumped to a $172.4 million full year net loss, hit by store closures and the impact of... Read More
Myer Cuts Amazon Deal In Retail Overhaul
Embattled Aussie department store, Myer, has continued to overhaul its retail business, now inking a deal with Amazon to facilitate delivery of... Read More
CE & Audio Retailers Reap Benefits Of JobKeeper As Sales Surge
Retailers, many who have stayed open during the COVID-19 downturn are set to report record profits after receiving millions of dollars in... Read More
BREAKING NEWS:Harvey Norman, Bunnings, JB Hi Fi, Winnings & The Good Guys Face Weeks Of Major Store Closures
JB Hi Fi, The Good Guys and Harvey Norman as well as Winnings are facing a major shut down of their Victorian... Read More
Myer Slashes 90 Jobs From Head Office
Myer has made another 90 employees from its Melbourne head office redundant, and redeployed another 45 people, as the COVID-19 crisis continues... Read More
Myer Employee Tests Positive For COVID-19
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May 15, 2020
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This morning Myer confirmed that an employee at their Highpoint Shopping Centre store in Melbourne has tested positive for COVID-19. The employee... Read More
COVID-19 Retail: Myer Extends Temporary Closure
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April 22, 2020
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Myer has announced that it will be extending the temporary closure of its physical stores until at least 11th May 2020, in... Read More
Myer’s Online Sales Flourish During COVID-19, Up 800% Over Easter Long Weekend
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April 20, 2020
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Despite closing all of its physical stores in late March, Myer has posted strong sales growth through its online channels during the... Read More
Online Sales Surge As PM Says Lock Down Will Not Be Lifted Any Time Soon
As traffic to retail stores fall by up to 70% retailers such as Bunnings, Officeworks, Big W and JB Hi Fi are... Read More
UPDATED:David Jones Tipped To Follow Myer & Close Down Stores
Myer has jumped the gun and announced that they are set to start closing all stores from this weekend, David Jones is... Read More
JB Hi Fi Closes Stores As Premier Sack 9,000 No Rent To Be Paid
JB Hi-Fi has temporarily closed its New Zealand business while retail Group Premier Investments has moved to sack 9,000 people. The JB... Read More
COVID-19: Shopping Centres Face Horror Time, Rent Relief Demands
The COVID-19 virus has seen shopping centres deserted with owners desperate to avoid having to shut down malls as retailers look for... Read More
Myer Slashes More Jobs, Impact Of IT Failure Not Known
Myer has slashed over 100 jobs with their latest round of cuts seeing 35 executives given a pink slip. The move comes... Read More
BREAKING NEWS: Myer Crashes Again Shoppers Forced To Get Cash
Days after Myer was forced to shut down their in store tills due a network problem another IT stuff up has seen... Read More
Myer Lose Millions After 3Hr Till Crash On Peak Trading Day
Serious questions are being asked about Myers ‘ageing technology platform after millions in revenue were lost at the weekend when their network... Read More
David Jones $487 Million Loss
David Jones has posted a full-year loss of nearly $500 million in 2019 due in part to impairments, and tax losses of... Read More
Largest Appliance Store-In-Store Myer Revealed
UK housewares brand Joseph Joseph will on Thursday open their largest store-in-store concept in the world at Myer Sydney. Taking over nearly... Read More
David Jones & Myer Tipped To Merge, CE & Audio Suppliers Set To Hit
Specialist audio and CE distributors face being hit if a proposed plan to merge David Jones and Myer happens. Currently several specialist... Read More
JB HI FI, New Store Layouts, House Brand TVs To Drive Future Growth
JB Hi Fi is looking to the future with new store layouts and instore merchandising being tested at a series of stores... Read More
Myer Leads ASX Share Slump, Retail Down
A week after hitting a new record high, the ASX has come tumbling down to its lowest level in 18 months, with... Read More
Is David Jones Canvassing A Sale? Hong Kong Bankers Say “Yes”.
Back in 2014 David Jones was purchased by the South African Woolworths Group for $2.1 Billion today the Company is up for... Read More
Humm Announces New Retailers In Push Against Afterpay
UPDATE: FlexiGroup shares surged off the back of the announcement, climbing 24% to close the day at $1.68. Financier FlexiGroup has announced... Read More
Facebook & Instagram To Take On Retailers With Army Of ‘Fluff & Puff” Influencers
First up it was Amazon who moved into the Australian retail market now Facebook and Instragram want to have a crack at... Read More
New Costco Online To Sell CE, Appliances & Electric Bikes
Costco is set to expand their range of consumer electronics appliances via a new online store that will also sell the new... Read More
EXCLUSIVE: Small CE & Appliance Distributors Facing Balance Sheet Probe
Suppliers to appliance and consumer electronics retailers, are set to face new balance sheet analysis as questions are raised about the ability... Read More
COMMENT:Retailers Need To Change Direction After First Round Of Collapses
2nds World and RT Edwards have called in the administrators and Radio Rentals has simply shut up shop, at the same time... Read More
INSIGHT: Myer, A Fire Sale ‘Basket Case’
If Myer were any other business, its doors would be closed by now. Despite recently posting its first profit in eight years... Read More
Big Retailers Dumps Apple Others Demand Better Margins As iPhone Sales Crash
Apple is facing a new dilemma in Australia, with retailers who have been bullied in the past regarding the returns they get... Read More
EXCLUSIVE: Costco To Launch Major E-Commerce Operation In Australia
Costco is set to unleash a major e commerce operation in Australia and one big advantage is they have buying power according... Read More
CE & Appliance Retailers Facing Tough Future Warns UBS
Investment Bank UBS has warned Australian retailers who are facing a tough reporting season that they must invest in price, range and... Read More
David Jones Sales Wobble But CE & Appliances Grow
Big department store David Jones joins a long list of retailers who saw sales wobble over the peak holiday buying period while... Read More
BREAKING NEWS UPDATED: Myer Ban Media As AGM ‘Brawl Begins”
UPDATE: Myer has received a ‘second strike’ against its remuneration report after its largest investor, billionaire Solomon Lew, successfully rallied other shareholders... Read More
Myer Shares Plunge, Dodgy Online Sales Revealed
Myer who last week slammed media for releasing poor secret sales numbers, has been caught out counting instore sales as online sales,... Read More
Solomon Lew Claims “Even Father Xmas Can’t Turn Myer Around”
He owns more than 10% of the shares in Myer, now Melbourne based retailer Solomon Lew claims the big department store board... Read More
BREAKING NEWS: Myer Calls Trading Halt After ChannelNews Story & ASX Intervention
Troubled retailer Myer has denied it has breached its continuous disclosure obligations but they initiated a trading halt following our story on... Read More
Pure, Back With New Stylish Digital Radio Offering
According to stats from Commercial Radio Australia, more Aussies are tuning into local and live radio than ever before, which some attribute... Read More
Will Harvey Norman Margins Get Squeezed & What Is The Future For Myer?
As big US retailer Sears crashes into bankruptcy questions are now being raised in Australia about the future of Myer and whether... Read More
Will Myer Go The Same Way As Sears As They Teeter On The Brink?
Executives at struggling Australian department stores David Jones and Myer are watching with interest the plight of US retailer Sears who is... Read More
EXCLUSIVE: Myer & David Jones Placed On Credit Watch
One of the worlds’ leading trade indemnity groups has placed a credit watch on David Jones and Myer. In a recent report... Read More
JB Hi Fi Cut New Financing Deal For Customers
As TV’s get bigger and more expensive and refrigerators come with entertainment built in, JB Hi Fi and The Good Guys have... Read More
David Jones Flicks CEO Just When CE & Appliance Sales Boom
Just when David Jones was getting its act together in the consumer electronics and appliance markets, John Dixon, the former Marks &... Read More
Myer Q3 Sales Down 3%, New CEO To Start June 4th
UPDATE – Shares in Myer have soared 15%, as investors respond positively to the better-than-expected quarterly update. Myer has post a 3.1% drop in... Read More
David Jones In Talks To Buy Myer, Shares Soar 8%
UPDATE – Following the news David Jones is considering buying Myer, shares in Myer have soared 8.7% by midday today. Recent reports... Read More
