Slight rise for high street retailer as it calls in the big spenders
Myer reported third quarter sales of $652.5million, up 0.5% on last year.
On a comparable basis, sales for the thirteen weeks to 27 April rose 0.4%, marking the “fourth consecutive quarter of positive comparable store sales growth,” Myer said in a statement.
However, Bernie Brookes CEO remains cautious, alluding to “external factors influencing consumer confidence.”
Key categories were Menswear, Cosmetics, Womenswear, and Childrenswear during the quarter, with no mention of homeware or electronics. Exclusive Brands and concessions continued to grow.
The best performing states were Victoria, Queensland and New South Wales, although boom state Western Australia was not included in the list.
Hey Big Spender
However, CEO Bernie Brookes remains cautious about the outlook for retail, but talked up its omni-channel efforts and the ‘five-point strategic plan’ which includes a new MYER one loyalty scheme for big spenders.
“Notwithstanding the external factors influencing consumer confidence and discretionary spend, we remain focused on executing our well-established five-point strategic plan, and continue to make progress on all five pillars.
“These are improving customer service, enhancing our merchandise offer, optimising our store network, strengthening our loyalty program and building a leading omni- channel offer”.
This month, Myer’s 2,000 biggest MYER one spenders were invited to join the new ‘platinum tier’ of its loyalty program.
Myer says building its omni-channel offer is a major “priority” alluding to its new order management system that will deliver productivity benefits to the business and consumer.
Myer is also refurbishing three of its 20 stores in Queensland, Adelaide and Miranda, New South Wales.
Myer said its newest store opened in Shell Harbour, New South Wales earlier this month, with a “very positive response” from customers.
