Feeds

Myer breaks ranks on 'net retailing

The internet didn’t eat our homework

Top 5 reasons to deploy VMware with Tegile

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. ®

Beginner's guide to SSL certificates

More from The Register

next story
Phones 4u slips into administration after EE cuts ties with Brit mobe retailer
More than 5,500 jobs could be axed if rescue mission fails
Driving with an Apple Watch could land you with a £100 FINE
Bad news for tech-addicted fanbois behind the wheel
Phones 4u website DIES as wounded mobe retailer struggles to stay above water
Founder blames 'ruthless network partners' for implosion
Radio hams can encrypt, in emergencies, says Ofcom
Consultation promises new spectrum and hints at relaxed licence conditions
Special pleading against mass surveillance won't help anyone
Protecting journalists alone won't protect their sources
Big Content Australia just blew a big hole in its credibility
AHEDA's research on average content prices did not expose methodology, so appears less than rigourous
Vodafone to buy 140 Phones 4u stores from stricken retailer
887 jobs 'preserved' in the process, says administrator PwC
prev story

Whitepapers

Secure remote control for conventional and virtual desktops
Balancing user privacy and privileged access, in accordance with compliance frameworks and legislation. Evaluating any potential remote control choice.
Intelligent flash storage arrays
Tegile Intelligent Storage Arrays with IntelliFlash helps IT boost storage utilization and effciency while delivering unmatched storage savings and performance.
WIN a very cool portable ZX Spectrum
Win a one-off portable Spectrum built by legendary hardware hacker Ben Heck
High Performance for All
While HPC is not new, it has traditionally been seen as a specialist area – is it now geared up to meet more mainstream requirements?
Beginner's guide to SSL certificates
De-mystify the technology involved and give you the information you need to make the best decision when considering your online security options.