Myer’s Bernie Brookes says worst over for department stores

 In Australia, Myer, NewZealand
Myer chief executive Bernie Brookes says the worst is over for department stores, which are regaining ground from specialty retailers, category killers and online rivals.
"The so-called death of department stores has probably been a bit oversold," Mr Brookes told retailers in Sydney on Tuesday after returning from a three-week tour of stores in the US, UK and Asia.
"There is an interesting rejuvenation of department stores around the world who have lost significant share over the last many number of years to fast fashion, specialty, big boxes and category killers," he said.
"We are seeing globalisation … at an ever increasing rapid rate … but we are seeing a lot of the regional and large department stores learning how to thrive and in fact grow, and particularly when you add their online figures," he said.Sydney Morning Herald – Read more…

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