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Myer Holdings to close ACT store
Dec '11
Myer Holdings Limited (MYR) announced that it will not renew the lease at its Tuggeranong (ACT) store.

Myer continues to review the merits of its new and existing store portfolio as a normal part of doing business, particularly in the context of lease renewal discussions.

The Tuggeranong store represents less than one percent of total group sales and MYER one data indicates that the majority of Tuggeranong customers were also choosing to shop at the recently refurbished Canberra City store. Continuing communication with our customers in the area will further encourage them to visit alternative nearby stores.

The timeline for the store closure is being finalised but the store is expected to close by May 2012. Myer will redeploy all permanent employees with new positions for these loyal team members at the nearby Canberra City and Belconnen stores.

A new Myer store at Townsville (QLD) is scheduled to open in 2012, with Shell Harbour (NSW) and Fountain Gate (VIC) also under construction and due to open in FY2013. For the ACT, a new store is planned to open in FY2014 at Woden, one of the largest shopping centres in the ACT.

Myer is Australia's largest department store group, and a market leader in Australian retailing. We offer an unrivalled choice in the latest national, international and 'exclusive to Myer' brands across women's, men's, and children's fashion, as well as accessories, cosmetics, homeware, furniture, electrical goods and much more.

Myer Holdings Ltd

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