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Myer chief sees gloomy year ahead

UncategorizedSeptember 13, 2013

Myer chief sees gloomy year ahead (Last Updated On: September 13, 2013)

Myer boss Bernie Brookes has admitted that 2014 will deliver another year of  earnings disappointments as the department store is handicapped by the weight of  millions of dollars in higher wages and utility bills, while shoppers remain  stubbornly hooked on thrift.

Beset by a raft of challenges, including a wages blowout of nearly $11  million due to pay  rises triggered by the Fair Work Act and ”bill shock” of  $3 million related to a steeper electricity and gas charges, Myer has seen its  full-year profit sink in fiscal 2013.

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