Department store giant, Myer, will close two of its stores located at Wollongong and Orange in New South Wales with one to be taken over by rival David Jones.
“Our New Myer strategy is designed to deliver a sharper and more focused offer, and improve productivity across the entire business,” said Richard Umbers, Myer CEO and managing director.
Umbers said these “difficult but important decisions are a necessary step in the delivery of the New Myer strategy, which is designed to return Myer to profitable growth”.
David Jones has announced it will move into Myer’s Wollongong Central site, where it will unveil a “new look” store in late 2017.
The two stores will be closed in January 2017 after the lease expires.
Umbers said they are committed to support all impacted team members. “We will work with them through this process”.
Myer recently reported an increase in quarterly sales compared to the same period the previous year, which, according to Umbers, demonstrate that the company’s New Myer strategy is moving in the right direction.
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