Myer to close its Frankston store after Christmas
Department store Myer has announced it will close its Frankston store in Victoria.
The retailer says it wants to divert resources to its rapidly growing online business and develop stores near the Frankston location, such as Southland, Chadstone, and Fountain Gate.
“Today’s decision continues to deliver against our Customer First Plan where we will continue to make targeted improvements to our store network, reduce space and improve the overall offer for our loyal customers,” said John King, CEO of Myer.
The Frankston store is expected to close on January 15 next year after the peak Christmas trading season.
The closure follows others in several states as Myer continues to ‘right-size’ its network, with others in Belconnen (ACT), Cairns and Toowoomba (Qld), Eastland and Highpoint (Vic), and Morley (WA).
With the closure of some of its stores, Myer claims to have made significant progress in the rationalisation of its property portfolio since the launch of its first Customer First Plan in 2019.
Myer said last month that it expected audited sales for the year to June to reach $3 billion, despite the loss of trading days to Covid in the second half, crediting burgeoning online sales as a key reason for its turnaround.