By Patrick Avenell
Myer CEO Bernie Brookes was upbeat today despite the listed department store recording slight dips in total sales and like-for-like sales for the first quarter of the 2012 Financial Year.
For the three months to 29 October 2011, Myer’s total sales were $681.4 million, down 3.5 per cent year-on-year and down 5.1 per cent on a like-for-like basis.
Brookes focused on the positives, saying womenswear and youth clothing continued to be strong performers, while new store openings in Mackay (now open), Townsville (under construction) and Liverpool (refurbishment) were “pleasing”.
A further source of optimism for Myer is its multichannel offering, which Myer refers to as ‘omnichannelling’. Myer reported positive feedback from consumers for Myer’s website rebuild.
“As part of our focus on becoming a leading omnichannel retailer, the first phase of our website rebuild is under way, with some improvements already implemented,” read Myer’s report to the ASX.
“Our online sales continue to grow with our customers responding well to our offer of free delivery on most merchandise. We anticipate delivering the next stage of improvements by March 2012.”
Myer’s profit guidance remains unchanged, with the company forecasting an FY2012 net profit after tax of around 10 per cent less than the FY2011 figure of $162.7 million.