Home / Knowledge / News / Apparel/Garments / Womenswear & Youth profitable categories - Myer
Womenswear & Youth profitable categories - Myer
Nov '11
Myer Holdings Limited (MYR) reported first quarter total sales for the thirteen weeks to 29 October 2011 of $681.4 million, down 3.5 percent compared to last year. On a like-for-like basis, sales were down 5.1 percent compared to last year.

Total sales excluding rationalised Electrical categories (whitegoods, movies and music, gaming, consoles, GPS and MVM brand), were down 2.7 percent. Our decision to rationalise our Electrical offer continues to impact sales, however these decisions are expected to result in sales from higher margin categories as floor space is reallocated. The range rationalisation is expected to be completed by the end of 1H FY2012.

The key categories of Womenswear and Youth continued to be the strongest performers during the quarter.

In October we opened our new store at Mackay in Queensland which has had very pleasing trading during the first four weeks and already has over 16,000 MYER one customers. Construction at Townsville (Queensland) is progressing well and the store is scheduled to open inthe second half of 2012.

The Liverpool (New South Wales) store refurbishment is on track to be completed by Christmas 2011 and the Carindale (Queensland) refurbishment has commenced and is expected to be completed by April 2012.

As part of our focus on becoming a leading omni-channel retailer, the first phase of our website rebuild is underway with some improvements already implemented. Our online sales continue to grow with our customers responding well to our offer of free delivery on most merchandise. We anticipate delivering the next stage of improvements by March 2012.

Myer Chief Executive Officer, Bernie Brookes, said that while the trading environment during the first quarter continued to be challenging, the result was in line with our expectations.

“Pleasingly, as the quarter progressed sales gradually improved against last year,” Mr Brookes said.

“Myer Melbourne recently won the World Retail Award for Best Store Design and is trading well up on last year. We have also been especially encouraged by the positive customer response to our new store in Mackay,” he said.

“We welcome the recent interest rate cut as we head into the critical Christmas trading period. The whole team is focused on ensuring our stores are well presented with merchandise to inspire our customers to 'Jump In' and see what we have in store for Christmas,” he said.

“With our significant investment in store wages and service training we look forward to providing our customers with an improved level of service in our stores. We are also confident that our customers will respond well to our new Summer ranges as well as our reinvigorated Stocktake Sale commencing on Boxing Day,” he said.

Our guidance remains unchanged. Assuming no deterioration in trading conditions, we anticipate FY2012 sales to be flat and net profit after tax (NPAT) to be up to 10 percent below FY2011 NPAT of $162.7 million.

Must ReadView All

Textiles | On 22nd Jul 2017

Govt constitutes GST Feedback and Action Room

The Government of India has constituted a Feedback and Action Room...

Textiles | On 22nd Jul 2017

India’s cotton textile exports fell in FY17: Tamta

The overall export of cotton textiles from India declined in 2016-17...

Textiles | On 22nd Jul 2017

Stella McCartney, Bolt Threads partner for eco fashion

Fashion designer Stella McCartney has partnered with Bolt Threads for ...

Interviews View All

Binoy Ravjani
Hero's Fashion

‘One of the recent trends in hand block printing is the indigo process,...

Victor Chao

‘In future, clothing boundary lines will become increasingly blurred.’

Asim Dalal
Indo Count Retail Ventures

Today, there is no other emerging market as India, "we make in India and...

Ashok Desai
Bombay Textile Research Association

Bombay Textile Research Association (BTRA) is a leading name in textile...

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Larry L Kinn
Suominen Corporation

Larry L Kinn, Senior Vice President - Operations Americas of Suominen...

Aditi Somani
Aditi Somani

Aditi Somani specialises in luxury fusion wear with international cuts and ...

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

Pranav Mishra

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


Letter To Editor

(Max. 8000 char.)

Search Companies


July 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category

Related Categories:

Planning to Take the Leap towards

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search