Myer Holdings Limited · ASX:MYR
Myer — Shareholder Meeting (December 2012)
20 slides from Myer's shareholder meeting presentation, Dec 7, 2012
Slide 1: 2012 Annual General Meeting
MYER AGM 2012 For personal use only 2012 Annual General Meeting 7 December 2012 Bernie Brookes Chief Executive Officer 1 Agenda • Chairman’s address • CEO update • Formal business – Resolutions – Shareholder questions • Meeting concludes 2 7 December 2012 1
Slide 2: A solid result in FY2012
MYER AGM 2012 CEO update For personal use only • Full year 2012 results • Delivering our five-point plan • Current focus • Success in an evolving landscape 3 A solid result in FY2012 • FY sales down 1.3% to $3,119 million • Q4 comparable store sales up 0.3% • Operating gross profit margin +105 bps t
Slide 3: Key achievements and sales performance in FY2012
MYER AGM 2012 Key achievements in FY2012 For personal use only • Further growth in Myer Exclusive Brand sales • Addition of significant new brands • Progress made on improving customer service • Sales and gross profit growth in core categories Womenswear, Miss Shop, Menswear, Cosmetics • Significant
Slide 4: Improvement in Operating Gross Profit
MYER AGM 2012 Improvement in Operating Gross Profit For personal use only • Myer Exclusive Brand sales grew by $31 % million to 19% of sales mix • Continued success of markdown program offsetting price harmonisation • Further reduced shrinkage • Category rationalisation, space utilisation • Improved
Slide 5: A solid EBIT result
MYER AGM 2012 A solid EBIT result For personal use only $m % EBIT EBIT Margin 400 8.25 8.20 9 350 7.20 7.37 8 300 6.40 7 5.47 6 250 5 200 4 150 2.30 271 259 3 100 213 236 230 165 2 50 1 73 0 0 FY06 FY07 FY08 FY09 FY10 FY11 FY12 FINANCIAL REVIEW 9 FINANCIAL RESULTS Key financial highlights in FY2012
Slide 6: Progress on delivering our plan
MYER AGM 2012 CEO update For personal use only • Full year 2012 results • Delivering our five-point plan • Current focus • Success in an evolving landscape 11 Progress on delivering our plan 1. Improve customer service and efficiency 2. Enhance our merchandise offer 3. Strengthen our loyalty program
Slide 7: Improving customer service
MYER AGM 2012 For personal use only IMPROVING CUSTOMER SERVICE 1. Improve customer service and efficiency Service initiatives • Continued targeted investment of extra hours in high service areas, fitting rooms and Myer Exclusive Brands • Additional staffing funded by National Brands • Enhanced profi
Slide 8: Efficiency initiatives and customer feedback
MYER AGM 2012 1. Improve customer service and efficiency For personal use only Efficiency initiatives • Supply chain – Improved ‘floor ready’ standards for more efficient replenishment – Out-of-stock levels significantly reduced • Infrastructure – Point of Sale clustering and consolidation in 29 sto
Slide 9: Enhanced merchandise offer
MYER AGM 2012 2. Enhanced merchandise offer For personal use only • Brand acquisitions and exclusivity strengthen offer • Addition of meaningful and wanted brands • Space optimisation enables range enhancements • Improved visual merchandise in stores • Sourcing offices supporting Exclusive Brand gro
Slide 10: Delivering our plan
MYER AGM 2012 For personal use only 19 DELIVERING OUR PLAN 20 DELIVERING OUR PLAN 7 December 2012 10
Slide 11: Karen Walker Home
MYER AGM 2012 KAREN WALKER HOME For personal use only 21 DELIVERING OUR PLAN 22 DELIVERING OUR PLAN 7 December 2012 11
Slide 12: Merchandise - integrated sourcing
MYER AGM 2012 For personal use only 23 DELIVERING OUR PLAN 2. Merchandise - integrated sourcing • Sourcing offices exceeding expectations • Supporting growth in Myer Exclusive Brands • Improvements in margin, quality, and lead time, all above expectations • Expanding into new categories • Broadening
Slide 13: Brand value management and loyalty program
MYER AGM 2012 2. Merchandise - brand value management For personal use only • Price competitiveness a key focus • Want to be renowned for – first choice for fashion, cosmetics and the home – globally competitive prices – an inspiring environment in store and online – improving customer service “Newn
Slide 14: Strengthen our loyalty program
MYER AGM 2012 For personal use only STRENGTHEN OUR LOYALTY PROGRAM BUILDING A LEADING OMNI-CHANNEL OFFER 7 December 2012 14
Slide 15: Omni-channel offer and store network
MYER AGM 2012 4. Build a leading omni-channel offer For personal use only • Over 14 million unique visits last year • Over 50,000 skus now online • Sales and key customer metrics all improved • Myer brand, depth of range and sourcing, store network, MYER one, all competitive advantages • Integrated
Slide 16: New stores: Fountain Gate and Townsville
MYER AGM 2012 For personal use only NEW STORE MYER FOUNTAIN GATE NEW STORE MYER TOWNSVILLE 7 December 2012 16
Slide 17: Optimise our store network
MYER AGM 2012 5. Optimise our store network For personal use only • Exit of Forest Hill and Tuggeranong • Planned exits of Fremantle, Elizabeth • Refurbishments – completed at Liverpool, Carindale – Indooroopilly and Highpoint commenced – Adelaide, Miranda plans underway • Announced new store for Da
Slide 18: Christmas 2012
MYER AGM 2012 For personal use only CHRISTMAS 2012 CHRISTMAS IN THE COMMUNITY 7 December 2012 18
Slide 19: How to succeed in an evolving landscape
MYER AGM 2012 CEO update For personal use only • Full year 2012 results • Delivering our five-point plan • Current focus • Success in an evolving landscape 37 How to succeed in an evolving landscape • Challenges and opportunities facing industry • Consumer confidence remains low • Consumers more emp
Slide 20: Competitive advantages
MYER AGM 2012 Competitive advantages For personal use only • Improved customer service • Vertically-integrated exclusive brand model supported by sourcing offices • Brand acquisitions and increasing exclusivity • Unique and valuable loyalty program • World-class supply chain, significant IT investme