Myer Claims ‘Right Strategy’, Posts Fifth Consecutive Quarter of Sales Growth

 In Australia, Myer, NewZealand
Myer says it has the "right strategy" to cope with the growth of online shopping and international rivals, after posting its fifth consecutive quarter of same-store sales growth.
Australia’s biggest department store on Friday reaffirmed its guidance for profit growth this financial year and announced the appointment of JoAnne Stephenson to its board. Ms Stephenson is also a director for Challenger, Asaleo Care and Japara Healthcare.
In an announcement ahead of its annual general meeting, Myer on Friday about matched Deutsche Bank forecasts by posting total first-quarter sales growth of 0.6 per cent to $719.2 million.
Like-for-like sales, excluding new stores, jumped 1.6 per cent for the 13 weeks to 29 October. Sydney Morning Herald – Read more…

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