This site uses cookies to improve your experience. To help us insure we adhere to various privacy regulations, please select your country/region of residence. If you do not select a country, we will assume you are from the United States. Select your Cookie Settings or view our Privacy Policy and Terms of Use.
Cookie Settings
Cookies and similar technologies are used on this website for proper function of the website, for tracking performance analytics and for marketing purposes. We and some of our third-party providers may use cookie data for various purposes. Please review the cookie settings below and choose your preference.
Used for the proper function of the website
Used for monitoring website traffic and interactions
Cookie Settings
Cookies and similar technologies are used on this website for proper function of the website, for tracking performance analytics and for marketing purposes. We and some of our third-party providers may use cookie data for various purposes. Please review the cookie settings below and choose your preference.
Strictly Necessary: Used for the proper function of the website
Performance/Analytics: Used for monitoring website traffic and interactions
Myer’s netprofit declined 18 per cent to $42 million in the first half, reflecting what the company described as an increase in the cost of doing business. Sales remained flat at $1.83 Sales remained flat at $1.83 Comparable sales climbed 0.8 Meanwhile, online sales rose 4.8 per cent of total sales.
The fight for board control of departmentstore Myer will be decided in the next few months, with the firm’s AGM likely to run in late October, but Solomon Lew’s major stake in the business could well be diluted by the time to vote. Departmentstore sales up this year. million, up 5.5 per cent to $539 million.
Myer has flagged a drop in profit for this fiscal year, largely due to underperformance at its three specialty brands amid macroeconomic challenges. The departmentstore chain expects netprofit after tax of between $50 million and $54 million for FY24, compared to $71.1 million in the prior year.
Departmentstore chain Myer delivered its highest full-year sales since 2005 this year but remains cautious as consumer spending declines due to unfavourable economic conditions. per cent of total sales – and a 10 per cent increase in productivity gains at physical stores. ” Netprofit rose 18.2
Departmentstore group Myer says its sales will nudge $3 billion for the full year as burgeoning online sales and “positive outcome” across all metrics drove solid growth, despite the loss of trading days to Covid during the second half. per cent higher than at the same time last year.
Shinsegae — one of the Big 3 of Korean departmentstore retailing along with Lotte and Hyundai — has continued its great form right through into the second half of the year, helped by the removal of the country’s remaining pandemic restrictions and an increasingly buoyant mood among the country’s more affluent consumers.
Departmentstore Myer has recorded a strong performance in its half-year results, with netprofit after tax hitting $32.3 Myer’s total group sales were up at 8.5 million – an increase of 55 per cent. . per cent to $1.51 billion, with comparable sales growth of 17.8 Group online sales grew 47.5 per cent to $424.1
Additionally, congestion at the Port of Shanghai, the largest port in the world, appears to be easing. The average waiting time across all vessel types, including tankers, bulkers and containers, at Shanghai has reduced to 28 hours, which is down considerably from its peak average waiting time of 66 hours during the lockdown in China.
The group – which owns and operates brands including Dotti, Peter Alexander, Just Jeans, Smiggle, Portmans and Jacqui E, and features over 1,100 stores across six countries – saw netprofit after tax rise by 6.5 I think it’s one of the reasons they’re going global at such a [rapid] rate.” Group sales were also up by 17.6
After a rollercoaster six months of lockdowns, Christmas and Omicron, departmentstore Myer yesterday delivered a strong half year result with netprofit up 55 per cent and its first dividend payment since FY17. Loyalty is king. Myer One has always been key to our business.
Lakeside Jundaloop has a gross lettable area of 99,832sqm, and major tenants include supermarkets Coles, Woolworths, and Aldi; entertainment sites Hoyts and Timezone; and departmentstores Myer, Big W, Kmart, and Target. Vicinity’s netprofit grows 101.5 Vicinity’s netprofit grows 101.5
Departmentstore David Jones has clawed its way back into the black, according to a report in The Australian , after posting its first netprofit since 2018. Accounts lodged with ASIC by David Jones’ holding firm Osiris Holdings tell of a healthy netprofit of $83.4 million for the same period a year prior.
The viability of the two iconic departmentstore chains, Myer and David Jones, has been seriously analysed and debated since a merger proposal by Myer was revealed in 2014. The financial collapse of traditional US and UK departmentstores and the impact of the pandemic has increased industry scrutiny on Myer and David Jones.
Wesfarmers has joined in the parade of businesses reaping the rewards of a strong year of trade, despite ongoing movement restrictions, signaling a 40 per cent jump in netprofit to $2.38 Revenue at Bunnings increased 12.5 billion (up 10 per cent) over the last 12 months, according to managing director Rob Scott.
billion baht, and netprofit by 1.3 Among the highlights was a successful relaunch of Central Chidlom (popularly known as Central DepartmentStore) in downtown Bangkok, with a new multi-level designer wing called Luxe Galerie. per cent and Italys is just crawling along at +0.7 For the full year, revenue grew by 5.7
Myer’s online sales have more than doubled since John King took over running the departmentstore in 2018, and the CEO believes they can double again to reach $1 billion in the not-too-distant future. billion in FY21, its first year-on-year increase since FY16, when sales peaked at $3.3 Myer lifted total sales 5.5
The new three-level, 8000sqm Luxe Galerie at Central Chidlom in downtown Bangkok is a nice job and does a lot to modernise a store that was beginning to flirt with obsolescence. The departmentstore huffed and puffed, but its status was clearly under threat. Then, in 1995, an electrical fire caused heavy damage. (It
Pustina will succeed Daniel Gutstein, who is stepping down from his position at the end of December. Pustina is currently Puma’s head of sales for Central Europe and has extensive experience in sports retail after holding significant roles at Hype Sports Innovation, Under Armour, and Adidas Group. “In
Sharing the good fortune Another example of a retailer’s growing focus on loyalty programs is Australian departmentstore, Myer. million in total and during FY23 almost 75 per cent of all purchases made at Myer were linked to a Myer One account. million having purchased products at the members-only price.
McCartney, who had the backing of Solomon Lew’s Premier Investments Fund, received 61 per cent support at Myer’s annual general meeting (AGM) on Thursday. McCartney is also a director at Premier Investments and its subsidiary The Just Group, which runs Just Jeans, Smiggle, Portman’s and Peter Alexander. per cent increase in sales.
They include the refurbishment of its store network, the rollout of its national distribution centre , and the relaunch of Country Road Group in July this year. billion, while netprofit after tax grew by 101.4 For the 26 weeks to 28 January 2023, Myer saw total sales growth of 24.2 per cent to almost $1.85
per-cent decline in first-half netprofit, estimated at $1.213 billion with revenue of $17.758 billion. . Sales momentum increased at the end of the half as lockdown and store closures reduced although, across the group, the business lost around 34,000 store trading days. Overall sales rose 3.7
Omnichannel shoppers frequently spend more with a brand than single-channel shoppers, and this is also true at Myer, King said. billion, with $71 million in netprofit, up 18 per cent year on year. The ability to have both is complementary.” Myer lifted its sales 12.5 per cent year on year in FY23, to $3.3
It operates 163 units with an average size of just over 5,200 square metres, but 80 of them are much bigger than that: cavernous warehouses where retail buyers and end consumers load up oversized shopping carts with bulk items at wholesale prices. Netprofit was up by 8.9 Same-store sales growth was almost flat-lining at 0.5
billion, as store closures during sporadic Covid-19 lockdowns throughout the year forced customers to shop online. Netprofit after tax was up more than 40 per cent to $2.4 Australian retail conglomerate Wesfarmers reported its full-year results on Friday , revealing a 10 per cent increase in revenue to $33.9
We organize all of the trending information in your field so you don't have to. Join 40,000+ users and stay up to date on the latest articles your peers are reading.
You know about us, now we want to get to know you!
Let's personalize your content
Let's get even more personalized
We recognize your account from another site in our network, please click 'Send Email' below to continue with verifying your account and setting a password.
Let's personalize your content