By Patrick Avenell
Myer has recorded resilient sales for the third quarter of its financial year — $651 million for the 13 weeks to 28 April 2012. Although this is down 0.9 per cent compared to the corresponding period last year, Myer notes in its report to the Australian Securities Exchange (ASX) that this is a “solid result in a challenging environment”.
Like-for-like sales dipped slightly more than total sales, down 2.1 per cent.
Myer’s best performing states during this period were Western Australia, South Australia and Queensland. New South Wales and Victoria are continuing to underperform for the department store chain.
Looking forward, Myer will soon commence a refurbishment of its Highpoint store in Melbourne, while there are two new stores set to open in Fountain Gate (Victoria) and Townsville (Queensland).
“Despite the challenging sales environment, we are continuing to see positive customer feedback from our investment in improving service, the addition of new wantd brands, growth in our Myer exclusive brands, as well as our enhanced loyalty program,” said CEO Bernie Brookes.”
Myer’s online sales have grown 200 per cent compared to last year, according to the ASX notice. This is attributed to improvements in the website design and an increased range.