Myer trims staff hours to cut costs

Original article by Sue Mitchell
The Australian Financial Review – Page: 15 : 28-Nov-17

Department store chain Myer is cutting staff hours at its poorer performing stores to help reduce costs, although the move appears at odds with CEO Richard Umbers’ New Myer strategy. A key feature of the strategy involves boosting "customer facing hours". Myer’s same-store sales fell by 2.1 per cent in the three months to October, and Umbers told its AGM on 24 November that there had been no improvement since then. Myer has been the subject of sustained attack recently from major shareholder Solomon Lew over its performance.

CORPORATES
MYER HOLDINGS LIMITED – ASX MYR, PREMIER INVESTMENTS LIMITED – ASX PMV, AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION, DEUTSCHE BANK AG

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