Investors have rewarded Myer for doing what it would say it would do in the first year of its five-year transformation plan, but remain divided on whether Australia's largest department store chain has finally turned itself around.
There's every sign CEO Richard Umbers has the right strategy to get the best out of the challenged retailer. That doesn't mean you should buy the company's shares.
Myer will invest in its popular private-label fashion brands, upgrade its top-flight stores and shrink its retail footprint this financial year to push earnings growth beyond sales growth in 2017.
If all goes according to plan, Myer's sixth year of falling profits should be the last decline for the retailer, which is now 12 months into a much-heralded revival plan - which ironically involves shrinking its way to better performance.
Myer has more than doubled profits in the first year of its transformation strategy, but it's still playing catch-up with traditional rival David Jones. werd
The success of JB Hi-Fi's $870 million acquisition of rival The Good Guys depends on how quickly it can transform the 64-year-old retail chain.
A measure of Australian consumer sentiment edged higher in September as an improvement in personal finances made people more likely to splash out on big ticket items, a survey showed on Wednesday.
Gerry Harvey declares he isn't worried by beefed-up competitor.
The demise of retailer Dick Smith has helped pave the way for a new giant in home appliance and electronics retailing through the $870 million union of JB Hi-Fi and The Good Guys.
JB Hi-Fi will buy rival electronics and whitegoods retailer The Good Guys for $870 million.
Giralang residents have condemned the Labor government's support for a compromise position on a new supermarket after Woolworths announced it was pulling its long-held ambition to build in the suburb.
Every business has its season and for hardware its spring, but there's a pall hanging over home improvement's high season.
The scorecard in the Dick Smith game of deception versus incompetence is a hard one to read.
Grocery wholesaler joins the big chains in reviewing and slashing its product range.
Homegrown apparel success story the Cotton On Group is on the verge of becoming a global business, with revenue from its international outposts about to surpass what it earns in Australia.
US retailer Lowe's claims it was "stitched up" by Woolworths in a deal to sell Masters for $800 million.
Doesn't matter where you go, you always end up in the slowest line? This one's for you.
British department store Debenhams in bringing back affordable, designer fashion to Australia.
What do Australians that haven't seen a decent pay rise or whose wages are moving backwards spend their money on? It's turning traditional retail theory on its head.
Dick Smith chairman Rob Murray wanted to get rid of CEO Nick Abboud months before the retailer collapsed, a court has heard.
Everything has been a bit too awesome for the world's most profitable toymaker, which is struggling to keep up with demand for its building blocks.
Retail sales will continue to slow this year as low wages growth sees Australians spend less at the supermarket, Deloitte Access Economics has warned.
Despite kicking off the so-called supermarket milk wars, Coles is launching a new, more expensive home brand to help struggling dairy farmers.
Dick Smith had more than 330 stores across the country but only 62 stocktakes were carried out last year, a court has heard.
Three former McDonald's executives and a Sydney private equity firm have bought the master franchisee licence for Pizza Hut in Australia from US parent company Yum! Brands.
Online retailers Android Enjoyed, Camera Sky and Klukkur all subject of NSW Fair Trading warning.
Just why would Dick Smith have acquired something from a supplier at 98¢ and sell the same thing back to the supplier at 78¢?
Three-quarters of Americans read a book last year, and the most popular platform was print.
Crackdown on tax rorts in wine industry gets thumbs up from wine giant Treasury Wine Estates, but some winemakers say government has gone too far.
In a rush of nostalgia, four girls of the ’90s stroll through the shiny new Westfield mall.
There's a reason investors love marketplace start-ups.
Millennials can help older workers with career makeovers – as reverse mentorship takes off.
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