Myer, Woolworths and Wesfarmers Face Shrinking Department Store Market, Myer Most Exposed
Times are tough for Australian department stores, and this pressure isn't likely to let up soon. Our cautious stance on the sector hinges on two premises. First, we expect Amazon to prove disruptive to incumbent retailers in Australia as it did in the U.S., seizing AUD 2.3 billion of annual sales from the sector by fiscal 2027. Second, we forecast a continued decline in the sector's relevance to consumers as they shift their spending to entertainment, leisure, and specialty shops. We forecast th...Wesfarmers is engaged in the retailing operations including supermarkets, merchandise and department stores, fuel, liquor and convenience outlets; retailing of home improvement and outdoor living products and supply of building materials; retailing of office and technology products; coal mining and production; gas processing and distribution; industrial and safety product distribution; and chemicals and fertilisers manufacture; and investments. Co.'s retail operations includes Coles, which operates Coles Supermarkets, Coles Express, Liquorland, Vintage Cellars, First Choice Liquor, and Spirit Hotels, among others; while its departmental operations include Kmart and Target retailers.
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