MYR 4.89% 96.5¢ myer holdings limited

Ann: CEO Presentation to Shareholders, page-61

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  1. 10,783 Posts.
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    This article from 'The Sunday Age' doesn't answer what percentage of sales have moved online. In FY 21, just under 20 per cent of MYR sales were online.

    Being a Sunday, it was more challenging to for instance arrive in the Melbourne CBD (MYR flagship store) at 0600 hours when the store opened as public transport routes do not operate, or are infrequent, at that time. MYR probably didn't want to be 'beaten' by competitors such as David Jones but opening at 0800 would have meant reduced staff costs and been more sensible.

    Love the photo but the report is fairly negative, and inconclusive given a comment further down that out at Chadstone (also Melbourne, but 15-20km from the CBD) crowds were 'building' in the early afternoon:

    Shopping centres threw open their doors to muted early morning crowds on Boxing Day as enthusiasm wanes for pre-dawn queues and consumers move online in the pandemic age.
    But retailers still expected Boxing Day would deliver an economic boon as crowds built during the day despite high coronavirus case numbers across Australia.
    Some keen shoppers lined up at major centres early on Sunday morning, including Chadstone where 7000 people had passed through the doors by 7am.
    Shoppers hit the Boxing Day sales at the Bourke Street mall on Sunday, in lower numbers than previous years.
    Shoppers Boxing Day sales at the Bourke Street mall on Sunday, in lower numbers than previous years.Credit:Joe Armao
    Early morning numbers appeared to be significantly lower than pre-pandemic years at popular shopping destinations across Melbourne, including the CBD.

    The Australian Retailers Association expected Victorians would spend $5.6 billion between Boxing Day and January 15, which would be a 6.6 per cent increase on the previous year. Much of that will be spent online.
 
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