Myer will close its store in Top Ryde City shopping centre in late July 2015 after a review found shoppers were heading to other nearby Myer locations.
“We have recently undertaken an extensive analysis of our current and future customer base, on a catchment by catchment basis that now informs our decision making,” said Myer CEO and managing director Richard Umbers.
According to the department store chain, a review of Myer One data (Myer’s customer loyalty program) indicated that the majority of Myer customers were choosing to shop at nearby Myer stores and the decision was made to close the Ryde location. The opportunity to exit was facilitated by plans to redevelop the shopping centre.
Myer has also decided to close three stand-alone specialty stores in Melbourne’s north which had been part of a trial running over the past 12 months. The stores stocked Myer Exclusive Brands in womenswear, menswear and childrenswear. The company said that significant insights had been gained from the trial but the decision was made to close these stores at the end of August 2015 and “focus on the core Myer business in bricks and mortar and online.”
The store closures come after reports last week that 80 Myer head office jobs were made redundant. Myer is currently undertaking a strategic review of its business and more changes are expected in the coming months.