Australian department store owner Myer will close some stores in coming years as more of its customers buy products online.
Bernie Brookes, Myer CEO, says less than 1 percent of his company’s sales are online, but he expects that figure to increase to 10 percent within five years.
That means he will close some "non-performing" or "marginal" stores before they become unprofitable, he told the ABC’s Inside Business program on Sunday.
(Source: The Sydney Morning Herald Online )