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Myer’s profit declines amid store closures, underperformance of some brands

Inside Retail

Myer saw a decline in net profit in the last fiscal year due to the underperformance of Sass&Bide, Marcs, and David Lawrence, inflationary pressures, and store closures. The department store chain’s net profit fell 26 per cent to $52.6 million as sales dipped 2.9 per cent to $3.27 per cent of total sales.

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To Thrive in the New Global Ecommerce Marketplace, Toys ‘R’ Us may Need to Think Small

Retail TouchPoints

brand management company WHP Global has bought a controlling interest in Tru Kids, which owns the Toys ‘R’ Us brand. On the acquisition, WHP CEO and Chairman Yehuda Shmidman said: “Our investment in Toys ‘R’ Us reflects our belief and passion for the brand. Profits at Barbie and Hot Wheels firm Mattel were $126.6