Home / Knowledge / News / Apparel/Garments / Myer Q3'FY14 comparable store sales stay stable
Myer Q3'FY14 comparable store sales stay stable
02
May '14
Myer Holdings Limited reported a 0.24 percent increase in comparable store sales in the third quarter (13 weeks to 26 April 2014) compared with last year. Total sales were $646.5 million, down 0.93 percent compared with last year. 
 
Highlights included: 
-Cosmetics, Fashion Accessories, Youth, Small Appliances and Toys were the strongest performing categories during the quarter; 
-The mid-season sale which occurred between 2nd and 27th April delivered strong sales growth; 
-Best performing states were New South Wales and Victoria; 
-Further growth in Concessions during the quarter; and 
-Continued strong growth in online sales and key online customer metrics. 
 
Myer Chief Executive Officer Bernie Brookes said, “It was encouraging to achieve another quarter of comparable store sales growth which has now been achieved in seven of the last eight quarters. 
 
“The marginal decline in total sales reflected the continued significant sales impact of the refurbishment of three of our top 20 stores and the commencement of a refurbishment at the Macquarie (NSW) store in February. In addition, sales continued to be impacted by the closure of Dandenong (VIC) last October and more recently the closure of the store at Elizabeth (SA) in February. These refurbishment and closure impacts were partially offset by the sales contribution of the new store at Shellharbour (NSW) which opened in May 2013,” said Mr Brookes. 
 
Three of Myer’s top 20 stores which continue to undergo significant refurbishment are Adelaide City (SA), Indooroopilly (QLD) and Miranda (NSW). “In line with our plan to improve the productivity of our store network, the Elizabeth (SA) store was closed in February 2014 with all team members successfully re-deployed to other stores. We are encouraged by the improved trading performance of the nearby store at Tea Tree Plaza since the closure of our store at Elizabeth,” said Mr Brookes. 
 

Must ReadView All

Textiles | On 28th Apr 2017

Fix 5% GST rate for textile goods: Textile bodies

Uniform levy of 5 per cent Goods and Services Tax (GST) on all...

Textiles | On 28th Apr 2017

India lifts CVD imposed on Nepali Jute goods

The countervailing duty (CVD) that was imposed on Nepali jute...

Courtesy: Williamsburg Garment Company

Fashion | On 28th Apr 2017

'We have grown by staying small & maximising efforts'

The easiest way to go out of business is to be too big or expand too...

Interviews View All

Abhishek Samdaria
Reflete

GST will certainly reduce a lot of paperwork in future

Nitin Soni
Dolphin Jingwei Machines

Taxation policies need to be made simpler

Rashi Menda
Zapyle

Every fifth sale we make on Zapyle is a repeat purchase

Kai Poehler
Voith Paper GmbH & Co. KG

The glass mat industry is growing by five to eight per cent annually. Kai...

Eric Scholler
Groz-Beckert

The Indian market has huge potential in technical textiles, and by far,...

Urs Stalder
Sanitized AG

Urs Stalder, CEO, Sanitized AG, talks about the increasing use of hygiene...

Pranav Mishra
Huemn

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

Silvia Venturini Fendi
Fendi s.r.l

"Yes, my confidence and positive attitude are my strengths and should be...

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

news category


Related Categories:
April 2017

April 2017

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

SUBSCRIBE


Browse Our Archives

GO


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



X