Myer

Annual Report 2013

Delighting and inspiring our customers

Our five-point plan underpins the business to ensure sustainability. We are also adapting the business to meet current challenges, and with an eye to the future we are embracing innovation and engaging with our customers in new and exciting ways.

Annual General Meeting The fourth Annual General Meeting of Myer Holdings Limited will be held on Wednesday 20 November 2013 at 11.00am (Melbourne time) in Mural Hall. Mural Hall Level 6, Myer Melbourne Store Bourke Street Mall Melbourne VIC 3000 Myer Holdings Limited ABN 14 119 085 602

Front cover image: JAG Handbags – Melbourne City Store Right: MAC Cosmetics – Melbourne City Store

Improve customer service

PA G E 0 8

Enhance our merchandise offer

PA G E 1 1

Strengthen our loyalty offer

PA G E 1 3

Build a leading omni-channel offer

PA G E 1 4

Optimise our store network

PA G E 1 6

Contents

02 About Myer 04 Joint Report by Chairman and Chief Executive Officer 06 Operating and Financial Review 18 Sustainability 24 26 28 40 47 Board of Directors Management Team Corporate Governance Statement Directors’ Report Remuneration Report 66 112 113 115 IBC Financial Report Auditor’s Independence Declaration Independent Auditor’s Report Shareholder Information Corporate Directory

02

MYER AnnuAl REpoRt 2013

66 brands which are owned or licensed and distributed exclusively by Myer, known as ‘Myer Exclusive Brands’. Our vertically-integrated Myer Exclusive Brand model of managing the design, development and sourcing of wanted brands provides us with significant control and flexibility. This model, together with our two sourcing offices in Asia, our world-class supply chain, and updated IT and merchandise systems, delivers speed to market and effective inventory control. This gives us a key competitive advantage. We also seek to acquire wanted brands where the addition of the brand will further strengthen our merchandise offer. Strengthen...