Home > Industry > Myer Closes Three Stores, Renews Push On Online Sales

Myer Closes Three Stores, Renews Push On Online Sales

No-one was mentioning the “A” word (that’s “A” for Amazon) – but the Myer retail group yesterday forecast a greater push into online and other multi-channel operations after recording a 1.4 percent drop in total sales and the closure of three major bricks-and-mortar stores. For the 12-month period, total sales at Myer were down by 1.4pc to $3.2 billion

CEO Richard Umbers was making it plain where Myer now sees its future lying: “We are building a more powerful and profitable omni-channel business and the performance of our online business was a standout of the result with sales up 41.1pc,” he said.

“Omni-channel sales, which also includes sales via our 2500 iPads in-store, reached $177 million during the year, now representing a penetration of 8.2 percent of total sales in July 2017.

“Similarly click-and-collect has grown strongly to now represent 15 percent of orders in July 2017.”

Umbers revealed that Myer is closing three major stores – at Colonnades (Adelaide), Belconnen (Canberra) and Hornsby, NSW.

You may also like
Amazon Opens Alexa To Crowdsourced Answers
Gaming Tops Amazon 2018 Consumer Trends Report
10 Takes On Netflix with All Access Streaming Service
Apple & Amazon Finally Cuddle Up Apple Music In, Dodgy Apple Products Out
Myer AGM, Spark Fest Tipped