Inside Retail

FEBRUARY 5, 2024

Department store chain Myer expects fiscal first-half sales and net profit to decline year over year amid a challenging trading environment. The company forecasts sales to fall 3 per cent to $1.83 billion, despite online sales increasing 2 per cent to $390.1 Online sales account for 21.3 per cent of the retailer’s overall sales.

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Inside Retail

JUNE 23, 2024

Department store group Myer has proposed to combine its business with Premier Investments’ Apparel Brands, comprising Just Jeans, Jay Jays, Portmans, Jacqui E and Dotti. The proposal is non-binding, indicative and conditional.

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Inside Retail

JULY 23, 2024

Aesop will return to David Jones next month as part of the department store chain’s strategy to boost its luxury beauty offerings. The brand will later launch at Chadstone Shopping Centre and Bourke Street Mall as part of the stores’ $15 million beauty hall redevelopment.

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Inside Retail

DECEMBER 3, 2024

Department store chain David Jones has launched its online app, a cornerstone of the retailer’s three-year, $65 million technology transformation project.

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Inside Retail

AUGUST 7, 2024

The department store chain expects net profit after tax of between $50 million and $54 million for FY24, compared to $71.1 Myer has flagged a drop in profit for this fiscal year, largely due to underperformance at its three specialty brands amid macroeconomic challenges. million in the prior year.

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Inside Retail

JUNE 25, 2024

The acquisition of Just Jeans, Portmans, Jacqui E, Dotti and Jay Jays by Myer provides a new growth channel after several years of reducing department store floor space and trying to find a fashion edge. The Premier brands could also provide the department stores with expanded merchandise range options.

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Inside Retail

MARCH 13, 2024

Department store chain Myer has appointed non-executive director Olivia Wirth as CEO and executive chair, effective June 4. Wirth will succeed current CEO and MD John King, who will remain in his role until June 3 to facilitate the transition and handover.

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Inside Retail

DECEMBER 20, 2022

A fundamental question about the future of David Jones was put to rest this week, after the retailer’s parent company Woolworths Holdings announced the sale of the department store chain to Australian private equity firm Anchorage Capital Partners on Monday. We’ve seen a general consumer trend away from department stores.”.

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Inside Retail

OCTOBER 26, 2023

Macy’s has been stepping up to the plate with a series of new moves, from the expansion of its smaller-footprint stores, to a new digital fashion platform targeting younger shoppers. But while these initiatives sound promising, the question remains: can the department store chain truly adapt to the needs of the modern-day consumer?

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Inside Retail

DECEMBER 15, 2022

Private equity firm Anchorage Capital Partners is reportedly in the final stages of acquiring David Jones from Woolworths Holdings, the South African retail giant that bought the department store chain for $2.1 billion in 2014.

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Inside Retail

JANUARY 29, 2024

” Department store sales climbed 3.7 “Department stores fared particularly well, capitalising on the Boxing Day sales and the final few weeks before Christmas with a range of promotional events.” per cent to $1.83 billion, followed by food sales which grew 1.4 per cent to $14.18 per cent higher to $5.29

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Inside Retail

AUGUST 28, 2024

Wesfarmers booked higher net income and revenue in the last fiscal year, with its discount department store chain Kmart contributing the most growth among its retail businesses. The company’s net income grew 3.7 per cent to $2.56 billion, while revenue rose 1.5 per cent to $44.19 Kmart Group ‘s revenue grew 4.4

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Inside Retail

AUGUST 7, 2023

David Jones is expected to axe as many as 100 jobs as its department store operations are being reviewed under the new owner. The company is in the process of improving store efficiency and eliminating tasks such as preparing sales reports for stores and office tasks, which can increasingly be done with the use of technology.

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Inside Retail

JUNE 30, 2021

“Whilst Myer Melbourne represents a highly successful business and the strongest single performing department store in Australia, it also represents a significant opportunity for positive rental reversion through mixed-use conversion in an irreplaceable location.”. The store has a weighted average lease expiry of 10.5

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Inside Retail

JANUARY 8, 2025

However, department store sales fell 1.2 Cafes, restaurants, and takeaway sales rose 3.6 per cent to $5.57 billion and food sales inched 2.8 per cent higher to $14.62 Clothing, footwear, and accessoriesclimbed 1.8 per cent to $3.07 billion while household goods improved 1.2 per cent to $5.99 per cent to $1.94

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Inside Retail

APRIL 20, 2022

Harvey Nichols has introduced the world’s first blue-chip non-fungible tokens (NFT) retail concept space located inside a luxury department store dubbed ‘HN NFT Vault’ at the retailer’s Pacific Place store in Hong Kong.

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Inside Retail

SEPTEMBER 19, 2024

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 million, which accounted for 21.6

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Inside Retail

MAY 17, 2023

One of the key issues facing Simon and other mall operators is that they are still joined at the hip to department store anchors. Seven of Simon’s top 10 anchors are mainstream department store chains, headed by Macy’s (97 stores) and JCPenney (53 stores).

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Inside Retail

FEBRUARY 28, 2024

billion and department stores slid 1.3 “The biggest discretionary categories, clothing, household goods and department stores, all suffered a decline as Australians tightened their purse strings amid the cost-of-living crunch,” Australian Retailers Association CEO Paul Zahra said. per cent to $2.93

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Inside Retail

JULY 3, 2024

Department store sales also declined 1.7 The discretionary categories are being hit the hardest, as seen with household goods, clothing and department stores,” said Fleur Brown, chief industry affairs officer at the Australian Retailers Association. Food retail sales grew 3.0 per cent to $14.36 per cent to $5.73

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Inside Retail

MARCH 2, 2022

per cent of total sales during this period, and comparable store sales fell 9 per cent – only to pick up in the last six weeks of the period, including Boxing day sales, growing 3.2 Store closures and space reductions contributed to a fall in expenses by 1.8 per cent for the half with comparable-store sales dropping by 3.2

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Inside Retail

JANUARY 18, 2023

Woolworth Holdings’ sale of the David Jones department-store business has cleared the way for the brands of its Country Road Group division to return to the shelves of Myer. Woolworth Holdings bought a controlling interest in Country Road in 1998 and acquired Witchery Group in 2007 to create Country Road Group.

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Inside Retail

MARCH 16, 2023

Department store Myer will exit its Queen Street Mall flagship in Brisbane’s CBD after unsuccessful negotiations with the landlord on lease renewal terms. In a trading update, the retailer said it will continue to search for alternative locations for its CBD flagship.

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Inside Retail

APRIL 22, 2024

Department store Myer has reportedly fired more than 50 head office staff across its digital, IT, and e-commerce teams as it offshores their functions to India.

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Inside Retail

DECEMBER 1, 2024

billion, and department stores climbed 0.4 Household goods rose 3.3 per cent to $5.92 billion while food increased 3 per cent to $14.53 Cafes, restaurants, and takeaways grew 2.3 per cent to $5.48 billion, while clothing, footwear and accessories increased 1.7 per cent to $3.02 per cent to $1.91

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Inside Retail

AUGUST 29, 2022

Department store Myer has announced it will close its Frankston store in Victoria. . The retailer says it wants to divert resources to its rapidly growing online business and develop stores near the Frankston location, such as Southland, Chadstone, and Fountain Gate.

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Inside Retail

OCTOBER 4, 2022

Lew’s supposedly last word on the proposition is that a merger of the two department store chains “doesn’t make sense”. billion in 2014, confirmed last month that it was actively considering an exit from the Australian department store chain. Lew, a former chairman of Myer, famously acquired a 10.77

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Inside Retail

FEBRUARY 8, 2024

Myer currently operates 56 department stores across Australia, as well as its online business and in-house brands including Sass and Bide, Marcs and David Lawrence. per cent increase is a case of under-promising and over-delivering, the department store CEO is taking the win as a sign of more growth to come. “We

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Inside Retail

AUGUST 20, 2024

Moreover, the group started the reconfiguration of department store space at Westfield Bondi and Westfield Burwood in Sydney and Westfield Southland in Melbourne. Meanwhile, Scentre Group said it continues to progress its $4 billion pipeline of future retail development opportunities.

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Inside Retail

MARCH 5, 2023

In January, roval department store David Jones replaced its long-term credit card partner American Express with Latitude which will be launched in September. The post Myer, American Express seal loyalty partnership appeared first on Inside Retail.

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Inside Retail

APRIL 22, 2024

Department store Myer has laid off head office staff across its e-commerce and operations teams as it offshores functions to India.

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Inside Retail

NOVEMBER 23, 2021

According to the department store business, exchange rates across Europe, Singapore and Malaysia hurt the business’ aggregated sales, and were only partially offset by growth in the New Zealand dollar and the UK pound. Harvey Norman has been hit by falling sales and depreciating exchange rates, with global sales falling 8.8

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Inside Retail

NOVEMBER 2, 2023

So what types of stores and services do they want? Intriguingly, four types of stores/services that are disappearing from main streets around Australia – the post office, bank, department store and newsagent – are in the top ten (out of 45 choices in our survey). The top ten stores and services in an ideal main street.

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Inside Retail

JUNE 28, 2022

Department stores saw the strongest growth at 5.1 National Retail Association’s chief, Dominique Lamb, said: “Despite the cost of living and interest rates rises, consumers are still spending necessary items across food, department stores and household goods.”. per cent and 0.8 per cent respectively. per cent increase.

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Retail Focus

DECEMBER 4, 2024

This includes significant investment into Steen & Strøm (S&S) shopping centre, the world’s oldest continuously running department store and anchor of the Promenaden portfolio, to diversify the store’s product and service offerings, as well as enhance its provision of experience-led shopping experiences.

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Inside Retail

MAY 9, 2022

Discount department store Big W has partnered with recycling platform TerraCycle to launch a toy recycling scheme in all 176 stores nationwide. After a trial in limited stores, the retailers’ Toys for Joy program collected over 18 tonnes of old toys. The two companies say around 26.8

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Inside Retail

OCTOBER 13, 2022

Discount department store Kmart has seen this, and following a refocus of its beauty categories over the last 18 months, it has relaunched its house brand Oxx Cosmetics as a ‘luxe for less’ option targeted directly at Gen Z. The only ones currently doing so are specialty beauty retailers, such as Sephora and Mecca.

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