Myer has reported an improvement in sales for the last seven weeks of the first quarter, down 0.2%, compared to the first six weeks when sales declined 1.9%.
Myer CEO, John King said the department store has developed strong plans across in-store and online, and is well-stocked to capitalise on both the Christmas and Black Friday period.
“We will continue to create more value for our customers through Myer one and our strategic partnerships with specific opportunities tailored across the peak period,” King told investors.
“The Melbourne Bourke Street windows feature an exciting iconic Australian experience to delight customers and create excitement, complementing our Santaland, Giftorium and personalisation experiences showcased nationally.
“We are focused, well prepared and have a clear plan to capitalise on the Christmas peak trade and remainder of the year, despite the uncertain economic outlook.”
Myer also previewed its pipeline of initiatives scheduled to land in FY24 including its national distribution centre (NDC) expected to be operational in 2024, delivering a more optimised supply chain and improved online fulfilment.
Myer is also investing in technology including new POS devices in-store to improve transaction speed and effectiveness and ongoing development of its team member app to facilitate greater customer and brand analytics.
Major refurbishments at Myer Chermside (QLD), Tea Tree Plaza (SA), Marion (SA) and Ballarat (VIC) are expected to be completed in 1H FY24.