Myer Holdings Limited
(ASX:MYR) has announced it will exit stores in Wollongong and Orange in New South Wales.
Myer CEO Richard Umbers has stated the move is part of the New Myer strategy, designed to improve productivity across the business and return Myer to profitable growth.
The Wollongong store is expected to close in October of this year, while the Orange store will be shut down in January 2017, with both are in line with the respective stores lease expiry dates.
Mr Umbers has indicated Myer is committed to supporting staff who will be impacted as a result of the closures.
Myer reported a net profit of $59.7 million at 26 January 2016.
