Myer Holdings Limited (ASX:MYR) is investing $9 million on a new website expected to generate $40 million in yearly sales revenue.
The first version of the site will launch in time for Christmas, with additional functionality added early next year, including “superdeals” and private shopping club services.
The chief executive Bernie Brookes described the current site as average, it currently generates $5 million in sales.
Myer reported a yearly net profit after tax of $160 million to July 30, 2011.
