The Australian sharemarket stayed in the green on Thursday,helped by the IT sector after one of the country’s largest tech companies announced staff cuts. Myer shares soared.
The department store says it will further improve its online delivery service with its new distribution centre.
Myer has expanded its loyalty program reach with an Amex tie-in,as big brands report their membership programs are growing fast.
The department store owner has been a big beneficiary of a spending spree by Australian shoppers over the holiday period.
I don’t get this retail migration to the internet. Give me the old department stores any day.
Myer opened its Frankston store to great fanfare in 1972,but now aims to clear three levels of stock with a large post-Christmas sale.
Speculation is growing that the department store’s owner is looking to make a deal - and it comes at a time of surprising strength for the sector.
Former Myer Grace Bros boss Terry McCartney said the department store had ‘found its legs again’,as he comes onboard as a director.
Myer investor and former founder of Swisse Vitamins Michael Saba says he’ll vote against adding Solomon Lew-backed candidate Terrence McCartney to the retailer’s board.
A major proxy advisory firm has said Myer shareholders should not support a motion to bring one of Solomon Lew’s nominees onto the board.
McCartney might be Premier’s Trojan horse but as the largest shareholder Lew’s Premier is entitled to have a representative on the Myer board.