Tagged With myer

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Australian department store retailers David Jones (DJ) and Myer have both recently moved to rationalise the number of clothing brands they offer in their stores. This strategy brings two common retail sayings to mind. First "to win in retail, you can't be everything to everyone", and second, "if you're not growing, you're going backwards".

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In this reporting season it would be hard to find two companies more different than well-known Australian airline Qantas and retailing giant Myer.

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Department store chain Myer reported worse-than-expected results today, and Myer CEO Bernie Brookes was quick to cite two familiar reasons: employment costs are too high and Myer is disadvantaged because online retailers from overseas aren't required to pay GST. It's a highly selective argument, and very poor basis for claiming that we need to change the rules for online shopping.

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Myer CEO Bernie Brookes was in the news yesterday, complaining that it's too expensive to employ staff because holiday agreements mean that Myer has to pay at least $62 an hour for the privilege. He argues that being internationally competitive would require paying around one-ninth of that figure. Let's put this in perspective: on a conservative estimate and with no leave loading whatsoever, Brookes gets paid more than 10 times as much per hour as Myer permanent employees earn on a public holiday, and 16 times more than casual staff.