Myer says ‘on way’ to prospering in difficult market

 In Australia, NewZealand
Department store company Myer has declared it is "on its way" to prospering in a "fast-changing" and "challenging" retail environment.
Shares in Myer jumped 1.5 per cent in early trade as it reaffirmed guidance for sales growth this year, saying improved sourcing and growth of inhouse brands would offset the weaker Australian dollar, which increases prices for imports.
Chairman Paul McClintock said at the company’s annual general meeting that these "challenging times" for retailers represent "times of great opportunity."
"We are all seeking to respond to the significant change transforming the business world via digitalisation and globalisation. This is not unique to retail," he told shareholders in Melbourne.  Sydney Morning Herald – Read more…

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