Myer news and archive

Myer to acquire Premier’s Apparel Brands business

Australian retailer Myer is all set to acquire Premier’s Apparel Brands business in Australia and New Zealand consisting of Just Jeans, Jay Jays, Portmans, Dotti and Jacqui E in exchange for the issue of new shares in the company. As part of the agreement, Premier will distribute its existing and new shareholding in Myer to shareholders and...

Business

Challenging trading conditions and store closures hit Myer's profit

Myer Holdings Limited expects FY24 sales to be 3,266 million Australian dollars, down 2.9 percent, reflecting the impact of Myer Brisbane City and Frankston store closures. The company expects NPAT of between 50 million Australian dollars and 54 million Australian dollars reflecting the challenging consumer and trading environment; impact of...

Business

Myer proposes strategic merger with Premier’s apparel business

Myer Holdings has approached Premier to explore a potential combination with its Apparel Brands business to create one of the leading retail and apparel companies across Australia and New Zealand. Apparel Brands is a leading clothing business with a portfolio comprising the Just Jeans, Jay Jays, Portmans, Jacqui E, and Dotti brands. It has a...

People

Robert Perry joins Myer board as non executive director

Myer Holdings Limited has announced that Robert (Rob) Perry will join the board as a non executive director, effective immediately. Perry, the company said, has extensive experience and expertise in audit, internal audit and risk management from a 36-year career with professional services firm EY, with a major focus on the retail and consumer...

BusinessFeatured

Myer posts positive H1, names Olivia Wirth chair and CEO

Myer Group comparable sales rose 0.1 percent in the first six month period, while total sales of 1,829.1 million Australian dollars declined 3 percent but were 13.8 percent above pre-Covid period. The Myer Holdings Limited also announced the appointment of independent non-executive director, Olivia Wirth, as executive chair to drive the company’...

Business

Myer expects H1 sales to be above pre-Covid level

Australian department store chain Myer reported a first half comparable sales increase of 0.1 percent. The company expects total sales for the period to be down 3 percent to 1,829.1 million Australian dollars and 13.8 percent higher than pre-Covid first six months results. Commenting on the trading update, Myer CEO, John King, said: “Like many...

Business

Ari Mervis to replace Joanne Stephenson as new Myer chairman

After seven years on the board of Myer Holdings Limited, Joanne Stephenson has decided to retire as chairman and as a director of at the upcoming 2023 annual general meeting (AGM). The company’s board has unanimously appointed current Myer non-executive director, Ari Mervis as the new chairman, with effect from the conclusion of the AGM....

BusinessFeatured

Fashion giants battle continues Down Under: Premier not to make takeover bid for Myer

New York – The battle that has two of the major apparel industry players in Australia is about to take yet another turn. Earlier this week, Premier Investment’s Solomon Lew said in an interview that the company he heads “has no interest in making a takeover bid” for competitor Myer. It’s worth recalling that Myer’s AGM will take place next week....

Business

Myer reveals Q1 sales decline of 4.8 percent

Troubled retailer Myer has said in a statement that its total first quarter sales value was 4.8 percent below the previous corresponding period, while sales declined by 4.3 percent on a comparable store basis. Total online sales, however, grew by 3.6 percent during the period. Commenting on the trading, Myer Chairman, Garry Hounsell, said: “Myer...

Business

Former House of Fraser’s CEO takes the reins at Australian department stores Myer

Former House of Fraser’s executive and experienced fashion retail expert John King has been appointed CEO at Australian department store operator Myer. King held the reins at British fashion label House of Fraser, a business he restructured and eventually sold to Sanpower in 2014. Commenting the appointment, Myer Executive Chairman Garry...

Business

Myer plunges to 476.2 mn Australian dollars net loss in H1

Myer Holdings Limited for the 26 weeks to 27 January 2018 reported 49 percent surge is online sales but total sales for the period declined 3.6 percent to 1,719.7 million Australian dollars (1,323.4 million dollars), while comparable store sales were down 3 percent. The company recorded a statutory net loss after tax of 476.2 million Australian...

People

Myer CEO and MD Richard Umbers steps down

Myer Holdings Limited has announced that chief executive officer and managing director, Richard Umbers, has stepped down from his role. The company added that Chairman Garry Hounsell, has been appointed as Executive Chairman with immediate effect, while a search commences for a new chief executive officer and managing director. Commenting on the...