Myer, Australia’s largest department store group, released their full-year financial report, and numbers show that customer loyalty and online sales in particular have helped drive profit, although there were some challenges overall.
Total sales for the retailer were $3.14 billion for the year closing on July 26. This is up just 1.2% on similar store sales for a year-to-year basis. Net profits fell 22.6% year-on-year to $98.5 million.
A large contributor to sales was the Myer one customer loyalty program, with $2.16 billion in sales....