Myer Annual Report 2012

annual report 2012

67 stores in prime locations

first choice

for fashion, cosmetics and the home

contents

About Myer • 02 2012 Financial Results • 04 From the Chairman • 06 From the CEO • 08 Review of Operations • 10 Sustainability • 18 Board of Directors • 22 Management Team • 24 Corporate Governance Statement • 26 Directors’ Report • 39 Remuneration Report • 44 Financial Report • 60 Auditor’s Report • 112 Shareholder Information • 115 Corporate Directory inside back cover

Myer ANNuAL report 2012

Annual General Meeting The 2012 Annual General Meeting of Myer Holdings Limited will be held at Mural Hall, Level 6, Myer Melbourne, Bourke Street Mall, Melbourne, Victoria on Friday, 7 December 2012 at 11am.

Myer Holdings Limited ABN 14 119 085 602

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about myer

Myer is Australia’s largest department store group, synonymous with style and fashion for over 100 years.

Our focus on providing inspiration to everyone includes our customers, our 12,500 team members, our 54,000 shareholders, our 1,200 suppliers globally and the many communities that we engage with our strong brand. Myer is a significant employer and has a long history of philanthropy and local community engagement. The store network includes a footprint of 67 stores in prime retail locations across Australia. The Myer merchandise offer includes 11 core product categories: Womenswear; Menswear; Miss Shop (Youth); Childrenswear; Intimate apparel; Beauty, fragrance and cosmetics; Homewares; Electrical goods; Toys; Footwear, handbags and accessories; and General merchandise.

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, and gives us a key competitive advantage. We also seek...