Myer Holdings Limited (MYR) today announced that it will be exiting its store located at Brookside in Queensland.

“Our New Myer strategy is designed to deliver a sharper and more focused offer, and improve productivity across the Myer business,” said Myer CEO and Managing Director, Richard Umbers.

“In addition to rolling out wanted brands across more than 300 in-store destinations and new customer service initiatives, we are also shaping our store footprint to improve productivity and align our network with our primary customer groups,” said Mr Umbers.

Mr Umbers said the decision not to renew the lease at the Brookside store was consistent with the productivity step-change objectives of the New Myer strategy.

“While the lease is due to expire in September this year, we will continue to trade through the Christmas and Stocktake period to minimise the disruption to team members and customers.

“We will support each impacted team member through a period of consultation to determine what opportunities may be available for ongoing employment,” said Mr Umbers.

The Brookside store is expected to cease trading at the end of January 2017.