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 Sep 2016

World trade in 2016 to grow at slowest pace since 2009

World trade in 2016 will grow at the slowest pace since the 2009...

Textiles | On 28th Sep 2016

Oerlikon to show new yarns and fibres at ITMA+CITME expo

The Oerlikon Manmade Fibers segment, the world market leader for...

Apparel/Garments | On 28th Sep 2016

ILO to bring 127 more Bangla apparel units under BW

To ensure greater social compliance and workers rights, the...

Interviews View All

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Larry L Kinn
Suominen Corporation

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

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

Pranav Mishra
Huemn

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

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

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
September 2016

September 2016

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

SUBSCRIBE


Browse Our Archives

GO


Advanced Search