Myer quick to deflect blame after poor results

 In Australia, Myer, NewZealand
Myer boss Bernie Brooks has blamed Australia’s high wages, rents, taxes and utility costs for the department store’s tough year.
The department store giant says tough conditions in the retail sector will continue into next year, as the tough economic outlook for Australia further impacts consumer confidence and spending
Myer’s full year net profit has fallen 8.7 per cent to $127.2 million, a result that came on the back of higher selling expenses.
Against that backdrop, Mr Brookes urged the new Abbott government to look at closing the GST loophole that allows online shoppers to spend up to $1000 on overseas goods without paying tax.  Sydney Morning Herald – Read more…

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