Myer Q3'FY14 comparable store sales stay stable

02 May '14

4 min read

“Trading at our flagship store in Melbourne has benefited from the recent openings of a number of new retailers in the Melbourne CBD, including the first stage opening of the Emporium development, particularly in the key categories of Womenswear and Youth. There has been improved customer traffic flow into the store during the third quarter.

“The cosmetics business has now delivered eight consecutive quarters of growth. The very pleasing performance of cosmetics during the quarter reflects a continued strong response to the introduction of leading make-up brand Napoleon Perdis together with solid growth across several key brands including M.A.C Cosmetics, Chanel and Benefit,” he said.

A number of Myer Exclusive Brands performed strongly during the period with Piper, Trent Nathan, Chloe & Lola, sass & bide intimates and Bauhaus all delivering strong sales growth. The creation of master brands such as Piper and Trent Nathan across multiple categories continues to be well received by customers.

Several new brands were launched during the quarter including Peter Alexander (Sleepwear), One Tru Luv (Youth Intimate Apparel), Ted Baker Kids (Childrenswear), YTTRIUM by Aurelio Costarella (Womenswear), Tome (Womenswear), Zadig & Voltaire (Womenswear), DL1961 (Womenswear), Splendid (Womenswear), Wrangler (Womenswear and Menswear), Fred Bare (Childrenswear) and Donna Hay (Homewares).

In addition, the rollout of Kurt Geiger (Women’s Footwear) has begun. New brands to be launched in the Spring/Summer 2014 season include Alex Perry (Womenswear), Aquila (Men’s Footwear) and a ready-to-wear range exclusive to Myer, L by Lisa Ho (Womenswear). There was continued strong growth in online sales during the quarter.

The online range was expanded with an increase in stock-keeping units (SKUs) to over 119,000. Importantly, there was further growth in key customer metrics with over nine million visits during the quarter. The recently established dedicated fulfilment centre continues to ensure a low cost and efficient supply chain to manage the rapid growth in online orders.

During the fourth quarter, sales are expected to benefit from the completion of the refurbishments of the Adelaide (SA) store in May 2014 and the Indooroopilly (QLD) store in June 2014. The Macquarie and Miranda refurbishments are expected to be completed ahead of Christmas 2014.

The Melbourne City (VIC) store is expected to benefit from the opening of 7,000 square metres of new space within the Emporium development adjacent to the store in the coming months. “The Emporium development provides us with the opportunity to expand our Menswear offering in our Melbourne City store. Categories such as Men’s footwear and plus size apparel will be expanded and we will introduce a men’s sporting range as well as a men’s personal shopping and styling destination.

“Within the new Emporium space we are also creating a world class toy destination in the heart of the Melbourne CBD. The new toy department will feature ‘shop in shop’ concepts for key brands like Lego, Barbie and Thomas the Tank Engine, with new interactive displays to add theatre and excitement to the new floor”.

Myer Holdings Limited

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