Myer Holdings Limited · ASX:MYR
Myer — H1 2016 Earnings Presentation
23 slides from Myer's earnings presentation, Mar 17, 2016
Slide 1: First Half 2016 Results and New Myer progress update
17 March 2016 First Half 2016 Results and New Myer progress update Guidance revised and encouraging results from initiatives in New Myer transformation Full year 2016 NPAT guidance range revised to between $66 million and $72 million, (previously $64 and $72 million), excluding implementation cost
Slide 2: New Myer initiatives: customer led offer, experiences, omni-channel
“Myer achieved a solid trading performance over Christmas and the Stocktake Sale period with a strong customer response to the Christmas Giftorium and new marketing campaigns. “There has been significant progress in executing initiatives across each of our four strategic priorities of the New Myer s
Slide 3: 1H2016 Result
basis, relating to total occupancy costs, space productivity, lease tenure and capital investments to support growth,” Mr Umbers said. 1H2016 Result Sales grew by 1.8 percent to $1,794.8 million, up 3.3 percent on a comparable stores sales basis, driven by the wanted brands and enhanced service stra
Slide 4: Leadership and Outlook
Leadership We continue to attract new talent to the organisation at all levels. The previously outlined program of Board renewal is continuing and a global search firm has been appointed to assist in the search for candidates with relevant experience. Outlook* During the second half we will accelera
Slide 5: Myer shares are traded on the Australian Securities Exchange
Myer shares are traded on the Australian Securities Exchange (MYR). Myer has a Sponsored Level I American Depository Receipt program which trades in the United States on OTC Markets (MYRSY). The financial information provided includes non-IFRS information which have not been audited or reviewed in a
Slide 6: Table 1: Profit & Loss Statement for the 26 weeks to 23 January 2016
Table 1: Profit & Loss Statement for the 26 weeks to 23 January 2016 1H2016 1H2015 23 Jan 2016 24 Jan 2015 Change vs. LY $m $m Total Sales Value 1,794.8 1,763.4 +1.8% Concessions 309.7 265.1 +16.8% Myer Exclusive Brands 339.6 364.9 (6.9%) National Brands and other 1,145.5 1,133.4 +1.1% Operating Gro
Slide 7: Table 2: Balance Sheet as at 23 January 2016
Table 2: Balance Sheet as at 23 January 2016 As at 23 January 2016 As at 24 January 2015 $m $m Inventory 408 375 Other Assets 68 64 Less Creditors (502) (474) Less Other Liabilities (196) (202) Property 24 25 Fixed Assets 432 476 Intangibles 906 933 Total Funds Employed 1,140 1,197 Comprising of: De
Slide 8: Table 4: Other Statistics and Financial Ratios
Table 4: Other Statistics and Financial Ratios 1H 2016 1H 2015 * 10.9% 11.3% Return on Total Funds Employed Gearing 0.6% 21.8% Net Debt/EBITDA* 0.05x 1.16x Stock Turn 3.4x 3.5x Creditor Days 71 days 73 days * Calculated on a rolling 12 months basis Table 5: Shares and Dividends 1H 2016 1H 2015 Share
Slide 9: Myer Holdings Interim Results to 23 January 2016
17 MARCH 2016 MYER HOLDINGS INTERIM RESULTS TO 23 JANUARY 2016 RICHARD UMBERS GRANT DEVONPORT CEO AND MANAGING DIRECTOR CHIEF FINANCIAL OFFICER THE AGENDA 1
Slide 10: New Myer is on track
New Myer is on track - Encouraging results from initiatives in New Myer transformation - Positive customer response to new wanted brands - Enhanced customer service in priority stores delivered positive results - FY2016 NPAT guidance revised to between $66 and $72 million (previously $64: to $72 mil
Slide 11: New Myer is coming to life
New Myer is coming to life - Wanted brands Introduced >500 separate new wanted brand destinations including TOPSHOP TOPMAN now in six stores Industrie and Veronika Maine announced as new brands - Wonderful experiences Strong customer response to customer service investment - Omni channel Growth in o
Slide 12: $ Millions 1H2016 1H2015
- $ MILLIONS 1H2016 1H2015 CHANGE - - - - - - 7 - - - - - - 8 4
Slide 13: $ Millions 1H2016 1H2015
- - - - - - 9 - $ MILLIONS 1H2016 1H2015 - - - 10 5
Slide 14: $ Millions 1H2016 1H2015
- - - - 11 - $ M I L L I O NS 1H2 0 16 1H2 0 15 - - - - - - - 12 6
Slide 15: New Myer: A sharper and more focused offer
THE AGENDA 1H2016 Highlights 1H2016 Financial Overview New Myer Progress Outlook MYER New Myer: A sharper and more focused offer to serve a more valuable customer driving productivity and growth Focus on a clearly defined and more valuable shopper | Reinvest in our primary customers Improve producti
Slide 16: Customer Led Offer, Wonderful Experiences, Omni-channel, Productivity
CUS TO M E R L E D W O NDE R F UL O M NI -CHA NNE L P R O DUCTI V I T Y OFFER E XP E R I E NCE S S HO P P I NG S TE P CHA NG E - - - - - - - - - - - - - - - - - - - - UNDE R P I NNE D B Y O R G A NI S A TI O NA L CA P A B I L I TY - - - - 15 - - - - - - - 16 8
Slide 17: TOPSHOP TOPMAN is a demonstration of New Myer
TOPSHOP TOPMAN is a demonstration of New Myer Exclusive Australian department store home Strong alignment to all primary customer segments Launched at Bondi with positive ‘halo’ sales and traffic uplift across whole of store Significant destinations now at Chadstone, Adelaide, Joondalup, Macquarie,
Slide 18: Melbourne & Sydney City Stores
Melbourne & Sydney City Stores ‘Department Store of the Year’ at the recent Roy Morgan Customer Satisfaction Awards 19 - - - - - - - Awarded “ Top Department Store Retailer in recognition of outstanding achievement in digital retail ” by Power Retail 20 10
Slide 19: Customer Led Offer, Wonderful Experiences, Omni Channel, Productivity Step Change
- - - - 21 - CUSTOME R LED OFFER W ONDERFU L EXPERIEN C E S OMNI CHANNE L PRODUCT I VIT Y ST EP CHANGE - - - - 22 11
Slide 20: New Myer Target Metrics
NE W M YE R TA R G E T M E TR I CS 1H2 0 16 SALES SALES / SQM E B I TDA ROFE1 23 THE AGENDA 12
Slide 21: ...To bring the love of shopping to life
- - - - 25 …TO BRING THE LOVE OF SHOPPING TO LIFE 26 13
Slide 22: New Myer Target Metrics Definitions
17 MARCH 2016 MYER HOLDINGS INTERIM RESULTS TO 23 JANUARY 2016 RICHARD UMBERS GRANT DEVONPORT CEO AND MANAGING DIRECTOR CHIEF FINANCIAL OFFICER NE W M YE R TA R G E T M E TR I CS De f i ni ti o n SALES SALES / SQM E B I TDA ROFE 28 14
Slide 23: Disclaimer
Disclaimer Myer shares are traded on the Australian Securit in the United States on OTC Markets (MYRSY?. The financial information provided includes non-IFRS information which have not been audited or reviewed in accordance with Australian Accounting Standards but are based on the HalfYear Financial