Feeds

Myer breaks ranks on 'net retailing

The internet didn’t eat our homework

Remote control for virtualized desktops

Australian retailer Myer has broken ranks with other major retailers like Gerry Harvey and Solomon Lew by saying that internet shopping isn’t slaughtering its sales.

Issuing an earnings guidance statement to the Australian Stock Exchange, Myer said sales for the first half of 2011 were down 3.54 per cent on the previous period and 5.19 per cent on the corresponding period in financial year 2010.

However, in spite of its membership of a retail coalition lobbying to have GST exemptions on internet purchases less than $1,000 ended, the retailer did not attribute its performance on the internet.

Myer boss Bernie Brooks said that internet retail represents less than 2 per cent of total retail in Australia. Rather, he has said heavy Christmas discounting, along with stores being closed by floods in two states (Queensland and Victoria), and an interest rate rise in November had all combined to depress consumer spending. “I’ve never seen the consumer so fragile,” Brooks said. ®

Choosing a cloud hosting partner with confidence

More from The Register

next story
Facebook pays INFINITELY MORE UK corp tax than in 2012
Thanks for the £3k, Zuck. Doh! you're IN CREDIT. Guess not
Google Glassholes are UNDATEABLE – HP exec
You need an emotional connection, says touchy-feely MD... We can do that
YARR! Pirates walk the plank: DMCA magnets sink in Google results
Spaffing copyrighted stuff over the web? No search ranking for you
UK.gov pushes for SWIFT ACTION against nuisance calls, threatens £500k fines
DCMS seeks lowering of legal threshold to fight rogue firms
Just don't blame Bono! Apple iTunes music sales PLUMMET
Cupertino revenue hit by cheapo downloads, says report
Hungary's internet tax cannot be allowed to set a precedent, says EC
More protests planned against giga-tariff for Tuesday evening
US court SHUTS DOWN 'scammers posing as Microsoft, Facebook support staff'
Netizens allegedly duped into paying for bogus tech advice
ISPs handbagged: BLOCK knock-off sites, rules beak
Historic trademark victory, but sunset clause applies to future blocks
prev story

Whitepapers

Cloud and hybrid-cloud data protection for VMware
Learn how quick and easy it is to configure backups and perform restores for VMware environments.
Forging a new future with identity relationship management
Learn about ForgeRock's next generation IRM platform and how it is designed to empower CEOS's and enterprises to engage with consumers.
Reg Reader Research: SaaS based Email and Office Productivity Tools
Read this Reg reader report which provides advice and guidance for SMBs towards the use of SaaS based email and Office productivity tools.
Saudi Petroleum chooses Tegile storage solution
A storage solution that addresses company growth and performance for business-critical applications of caseware archive and search along with other key operational systems.
How to simplify SSL certificate management
Simple steps to take control of SSL certificates across the enterprise, and recommendations centralizing certificate management throughout their lifecycle.