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...Woolworths Group is organized into five segments: Australian Food and Petrol, which involves the procurement of food and petroleum products for resale to customers in Australia; New Zealand Supermarkets, which involves the procurement of food and liquor and products for resale to customers in New Zealand; Endeavour Drinks Group, which involves the procurement of liquor products for resale to customers in Australia; BIG W, which involves the procurement of discount general merchandise products for resale to customers in Australia; as well as Hotels, which involves the provision of leisure and hospitality services, accommodation, entertainment and gaming in Australia.
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