While increased occupancy costs, including rent, utilities, rates, taxes, as well as labour costs continue to largely impact the cost of doing business, Myer is geared up for the short and long term.
Myer's execution of its five point plan has helped lift first quarter sales for the 2014 financial year to $691.1 million, up 0.44 per cent compared to last year.
sass & bide founders Heidi Middleton and Sarah-Jane Clarke have confirmed they will remain in the business as creative director and brand director respectively, following reports they had resigned from their positions.
The heads of department store Myer have used the company's annual report to call for retail reform in Australia, saying the local sector needs to become more competitive in the global retail marketplace.
Myer has opened a fulfilment warehouse in partnership with logistics provider Cargo Services Group to support the growth of its online store.
Australian fashion designer Nicola Finetti has signed an exclusive agreement with David Jones, following Finetti's soon-to-be expired contract with Myer.
The Australian Competition and Consumer Commission has granted Myer interim authorisation to coordinate various promotions with existing businesses operating in its Myer stores.
Myer has secured a department store exclusive with the launch of Australian designer sleepwear and underwear brand Peter Alexander Sleepwear.
Major store refurbishments, investment in its omni-channel initiatives and rising ongoing operating costs like wages, rents and electricity have put a dent in Myer's full year net profit for the year.
Myer has initiated a tender process to give creative agencies the opportunity to join the department store.
Specsavers was awarded the coveted 2013 Visa Australian Retailer of the Year award at the 2013 Australian Retailers Association Australian Retail Awards on Tuesday.
Myer and Shoes of Prey have been announced as finalists at the World Retail Awards.
Owners and managers of retailers including Dick Smith, Myer, David Jones, Woolworths and Rebel Sport are some of top 25 finalists in the running for the National Retail Association Young Retailer of the Year title.
Myer has managed to report positive results for the third quarter for the 13 weeks to 27 April 2013.
Less than two weeks in court, Myer and Australian fashion designer Kym Ellery have reached a mutually agreed settlement.
Court proceedings between Australian fashion designer Kymberley Ellery and Myer has begun.
Myer has lifted its first half year sales for the first time since 2010.
Myer and David Jones are in a bitter battle for one of Australia's top designer labels, Ellery.
Myer has launched a number of IT initiatives as it continues to execute its omni-channel strategy.
phdcreative has partnered with Van Heusen to bring a large format interactive touchscreen to the menswear floor of the Myer Sydney City store.
Myer advises Judy Coomber, group general manager merchandise has resigned and will leave the business for Peter Alexander.
Myer has released a positive sales figure for its department store assets for the first quarter of the 2013 financial year.
Their customers will be rewarded with points for using their Commonwealth Bank Awards credit card in-store at Myer.
The store opens as part of the redevelopment of Stockland shopping centre in Townsville.
Choice recently conducted a Shadow Shopper survey for the top ten retailers in Australia to see how their customer service skills stack up against one another.
Despite the disappointing financial results, Myer proceeds to open new stores with the latest addition being its Fountain Gate store at Fountain Gate Westfield Shopping Centre in Victoria.
While Myer continues to feel the financial pinch it aims to continue to roll out its five-point strategic plan, which it hopes will better position the company for the future.
Howard McDonald will retire as Myer's chairman in October while Paul McClintock has announced his appointment as non-executive director and chairman-elect of the company.
Myer has been forced to cut 100 staff in order to continue viable operation in what has been described as the toughest conditions the retail sector has experienced in over 25 years.
The company that has made a $1.65 billion takeover bid for David Jones has been revealed by a UK blog site as EB Private Equity.
Myer is building a new two-level 12,000 square metre store at Casuarina Square in Darwin featuring a large range of apparel, cosmetics, homewares and electrical merchandise.
Low foot traffic and a drop in sales in April, which has carried on into May, have forced Myer to re-evaluate its net profit after tax forecast for 2012 financial year.
Myer continues to make good progress adapting itself to the changing retail environment but it hasn't been enough to help the company's half-year earnings where NPAT was down 19.8 per cent.
Not only are Australian retailers already paying higher labour and rent costs than overseas peers, they are also paying a high price for stock as they continue to fight the against its online competitors.
Following the buyout of Pacific Brands recently by a US-based private broker, Deutsche Bank has highlighted that Harvey Norman and David Jones are the next probable takeover targets.
Myer has announced that it will look at discontinuing the lease of underperforming stores and finding a partner to help with its omin-channel strategy.
Despite seeing first quarter total sales slip 3.5 per cent down to $681 million, Myer continues to remain optimistic.
Myer sales are down 3.5 per cent for the first quarter of the 2012 financial year to $681.4 million but still anticipates that sales for the full year to be flat.
The 10,000 metre squared two-level store will provide a range of international and national Myer exclusive brands across a variety of categories.
The department store reported a net profit after tax result of $162.7 million. Meanwhile, sales were down 3.8 per cent to $3.16 million and on a like-for-like basis it was down 5.5 per cent.
Myer has restructured its executive team after its executive general manager merchandise Penny Winn resigned, moving over to Woolworths.
Myer has extended Bernie Brookes' contract as chief executive officer and managing director of the company for a further two years.
As of Tuesday, Myer has become the first and only Australian department store to remove its shipping and handling costs for all products bought via its website gifts.myer.com.au.
The development of a flagship store will see Myer dedicate multiple storeys to their store while leaving additional floor space for specialty retailers to set up shop.
Poor results from its all-important Clearance period in June and Clearance Clearout in early July has forced retailer David Jones to downgrade its profit guidance for the remainder of 2011 financial year.
Online sales will soon take a larger share of retail growth in Australia according to research from investment firm Morgan Stanley.
Currently, the company directly outsources around $150 million worth of products and aims to increase that to $200 million by opening two dedicated global sourcing offices.
Like rival David Jones, Myer continues to feel the pressure from the conservative consumer sentiment, reporting total sales for the third quarter of $657 million, down 2 per cent compared to last year.
According to the 2011 Corporate Reputation Index, compiled by research consultancy AMR, JB Hi-Fi is viewed by Australians as having the best overall reputation based on strong perceptions around its products and innovation.
It’s taken four years and $300 million to rebuild the flagship store that is expected to attract over 25 million visitors each year. It delivers fashion, beauty, entertainment and lifestyle in a nine-level light-filled space with an atrium and centrepie
Bunnings has beat retail rivals David Jones and Myer by scoring the People’s CHOICE award for best bricks and mortar retailer at the CHOICE Awards.
The fortunes of department store rivals David Jones and Myer could not be more different, with the Macquarie Securities Group saying DJs is outperforming whilst Myer is lagging well behind market expectations.
Department store giant Myer has reported a 3.5 per cent drop in sales to $1,733 million compared to $1,797 million from the previous corresponding period.
Having previously made threats to launch a China-based retail website Myer has gone live with an experimental offshore online shopping site, myfind.com.
While sass & bide will operate as a separate entity, Myer will have exclusive department store rights to distribute the designer brand, as well as benefit from the expansion of sass & bide standalone store network and its domestic and international wholes
Myer has downgraded its profit outlook for the FY11 to be five per cent less than it was initially stated, which was a five to 10 per cent growth.t expects first half net profit after tax to be in the range of $106 million to $109 million.
Ruslan Kogan from Kogan Technologies is calling out Gerry Harvey and Bernie Brookes on their bluff in regards to taking their e-commerce sites offshore to China.
As part of the growth stage, at least 16 new managers will be appointed in the next two months across merchandise, business services, finance, marketing, electrical, entertainment and IT
Myer has reported sales for the period ending 30 October is down 1.53 per cent to $706 million compared to the previous corresponding period, in which Myer delivered a record result with sales growth of 5.21 per cent.
Myer has reaffirmed its anticipation for its net profit to grow between 5 to 10 per cent in the 2011 financial year.
In its first annual review since it was listed on the Australian Stock Exchange on November 2, 2009, company chairman Howard McDonald said the company faced several external challenges.
REDgroup Retail has appointed Adrian Jones to the role of group commercial director.
David Jones surpassed Myer by a small margin with 32 per cent of respondents stating that Myer was the most trusted department store brand while DJs came out on top with 36 per cent.
Myer said it hopes to bring a solid platform for growth through investing significantly in technology.
The company saw sales increase by 0.7 per cent from $3.261 million to $3, 284 million.
Myer has expanded the range of benefits that are available to its customers by launching a suite of general insurance products, 'Myer Insurance, Issued by QBE'.
A study has found that retailers such as Big W, Dick Smith and Myer are 25 per cent more likely to offer email recipients choices during the opt-in stage than those in the US, but lag behind in offering consumers sale or discount incentives.
According to Myer CEO Bernie Brookes, the refurbishment program for its retail stores is nearing completion. He said that an expansion plan for 15 new stores is also in development.
Myer has appointed Peter Hay as a non-executive director of the company.
Myer Holdings Limited has released its sales figures today for the first half of FY10 to 23 January 2010. The retailer posted total sales revenue of $1,797 million, up two per cent compared to the corresponding period last year.
Despite economic talk turning towards recovery, IBISWorld predicts rising interest rates and the absence of cash hand-outs will see consumers saving more than spending this Christmas.
Carla Zampatti has signed an exclusive agreement with David Jones, which provides that both the Carla Zampatti and Bianca Spender brands will become department store exclusive to David Jones.
Myer Holdings has lodged its prospectus for the initial public offer of its shares with the Australian Securities and Investments Commission ahead of Myer's planned listing on the Australian Securities Exchange.
Myer is expanding its chain of 65 stores nationwide to 80 by 2014, with three new stores to be opened within five years.
Myer has appointed Anne Brennan as non-executive director, effective immediately.
Myer has just released its full year financial results to 25 July 2009, and despite the fact that the company is currently 39 months into its 50 month turnaround phase, the company performed exceedingly well.
Myer has issued a report to the ASX outlining that it has revised its previous economic outlook for the year after strong customer response to promotional offers, improved store presentation and local marketing.