Myer
has reported an increase in profit but on lower sales which begs the question -
have they simply given themselves more time to find a solution to department
store decline?
Net
profit is up 3.1% while total sales fell 2.8%. The company is continuing its
focus on exclusive brands and making the most of its new website which
apparently performed well in the lead-up to Christmas, and produced record online
traffic on Boxing Day.
Myer
says it will continue to focus on in-store customer service, expanding its
exclusive brand range and improving its online offer. For them, increasing
profit is a good start.