Garry Hounsell Chairman Net profit after tax (NPAT) pre- Efficiency levers: We recently launched a implementation costs and individually significantly enhanced significant items decreased by 52.2% > Simplified business processes; to $32.5 million. The Board determined > Efficient from factory to customer; and website to deliver that no final dividend would be paid. > Accelerated cost reduction. customers a step change As part of the full year results John and the team are focused on in search capability and announcement in September, we delivery and execution, not promises. announced that we had signed a binding overall user experience. term sheet with our existing lenders to We are confident that with the successful refinance our banking facility, extending execution of this plan, we will improve the RETAIL the facility until February 2021. This will performance of the business and deliver Earlier this year, I was pleased to open provide a stable platform for the next shareholder value. the final stage of the Myer Hobart 2.5 years whilst management work to redevelopment. Throughout the year improve financial performance. ONLINE we have also continued refurbishment PUTTING CUSTOMERS FIRST As previously mentioned, Myer’s online works at Castle Hill in New South Wales business is a significant asset that and Maroochydore in Queensland, and In September 2018, John King outlined continues to deliver strong growth and completed the refurbishment of our our Customer First Plan. John said from now represents our third largest store. Eastland store in Victoria. At Eastland day one that he will put customers first in During the year we launched The Myer we have piloted a new in-store concept, every action he takes and every decision launching a children’s play centre, Market, an online lifestyle destination he makes. He is committed to ensuring Monkey Mania. where customers can find a curated Myer is Australia’s favourite department range of new brands from diverse sellers, store by providing friendly, helpful CUSTOMER FOCUSED EVENTS with a focus on home and entertainment. service, high quality and exclusive brands, In putting customers first, we have and offering compelling value. Our new Myer website has significantly redefined our events program. enhanced the overall user experience, The Customer First Plan is as follows: Our new season fashion shows in March particularly on mobile devices. It has Focus areas: an improved and faster search, clearer and August focused on in-store runways, filtering and navigation, improved giving customers the opportunity to > Transform customer experience presentation of merchandise and more purchase tickets to attend, and inviting in store; engaging brand and editorial journeys. key MYER one Members as a reward for > ‘Only at Myer’ brands and categories; their loyalty. These events have allowed value for money; and us to create new customer experiences, bringing theatre back into our stores. > Continue enhancing myer.com.au. Myer Annual Report 2018 3