Myer has reported an increase
in sales and an increase in profit after focussing on higher performing
categories. In the last 6 months reporting period it cut down on discounts,
sold more in-house brands and moved away from electronics and white goods
categories.
Since 2010 Myer has moved
away from white goods, electronic gaming consoles, CD’s and DVD’s, and re-allocated
space to higher margin fashion categories including some new independent brands
like Trent Nathan, Sass & Bide Intimates, and Material World by Madonna.
Myer said its focus on price
harmonisation (requiring suppliers to provide level price playing fields
instore and online) is gaining results and their own online activities are
growing steadily. They also report that more of their customers are researching
online and buying in-store rather than the opposite.