THE future of Wagga’s Myer store is up in the air with the business conducting a strategic review into its operations in light of poor profit results announced last week.
No one at Myer in Wagga or at its Melbourne head office was prepared to comment on Monday as to whether the city’s store would close or if its future was guaranteed.
Wagga Business Chamber president James Howell said the uncertainty surrounding the major retailer’s future was worrying.
“It’s a concern for retail in general if it’s starting to go backwards,” he said.
Myer’s poor profit results have sparked speculation the retailer could be bought out by one of its rivals, with the owners of David Jones, Woolworths South Africa, among the top of the takeover speculation list.