Interviews
Strong foundations deliver a solid result, Myer boss
15 Sep '11
4 min read
“During the second half we took a renewed focus on optimising our promotions despite the extremely competitive environment, and I am encouraged that the overall level of markdowns for the year was below FY2010. The savings from optimised promotions have been used to invest in improving customer service. The targeted and measured rollout of this service investment is progressing well and will remain a key focus during 2012.
“Myer has a very strong base of loyal customers. The MYER one loyalty program represents a significant competitive advantage and a unique opportunity to support our multi-channel strategy.
Sales to MYER one customers were over $2 billion in FY2011. Our MYER one members spent on average 3.6 times the value of their reward gift cards on redemption.
“We are well progressed in developing a fully integrated multi-channel offer for consumers, including our stores, online and mobile. The redevelopment of our digital and online offer will deliver a new e-commerce site, MYER one personalisation, click and collect in stores, a private shopping club for our top MYER one members, myfind super deals online, as well as other initiatives currently under development.
“With approximately 11 million unique visits to our website during the last 12 months, there remains significant potential to provide a leading multi-channel offer leveraged off our strong brand, store network, and world class supply chain.
“We review our business on an ongoing basis and have provided for the costs associated with the rationalised music and DVD offer, the exit of gaming and consoles from stores, a reduction in head count in support office and the pending closure of the Forest Hill store. In July 2011, we also divested our shareholding in the retailer, Harris Scarfe, as we believe our capital can be better directed within our business,” said Mr Brookes.
Click here to read more details
“Myer has a very strong base of loyal customers. The MYER one loyalty program represents a significant competitive advantage and a unique opportunity to support our multi-channel strategy.
Sales to MYER one customers were over $2 billion in FY2011. Our MYER one members spent on average 3.6 times the value of their reward gift cards on redemption.
“We are well progressed in developing a fully integrated multi-channel offer for consumers, including our stores, online and mobile. The redevelopment of our digital and online offer will deliver a new e-commerce site, MYER one personalisation, click and collect in stores, a private shopping club for our top MYER one members, myfind super deals online, as well as other initiatives currently under development.
“With approximately 11 million unique visits to our website during the last 12 months, there remains significant potential to provide a leading multi-channel offer leveraged off our strong brand, store network, and world class supply chain.
“We review our business on an ongoing basis and have provided for the costs associated with the rationalised music and DVD offer, the exit of gaming and consoles from stores, a reduction in head count in support office and the pending closure of the Forest Hill store. In July 2011, we also divested our shareholding in the retailer, Harris Scarfe, as we believe our capital can be better directed within our business,” said Mr Brookes.
Click here to read more details
Myer Holdings Ltd
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