Myer’s material alterations

Exactly what Myer’s transitioning towards isn’t clear. But despite the retailer’s second-half dip, its ‘bricks and clicks’ model is paying off.

Halfway through this financial year, with sales and earnings up, Bernie Brookes had good reason to be pleased with Myer’s performance in a difficult retail environment. Then, in the second half, sales fell, costs blew out and earnings began tumbling.

The relatively modest decline in Myer’s top line (down 0.2 per cent) could be attributable to the initially phony election campaign that began in January. Fourth-quarter comparable store sales were down 1.6 per cent.


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