Coles Myer
Coles Myer Ltd. was an Australian company until 2007 that operated a variety of chain stores. Today the Coles Group is part of Wesfarmers . Myer is now Australia's largest department store chain.
Early history
The story goes back to 1900 when Sidney and Elcon Myer opened a shop in Bendigo . At the same time, in 1906, Coles opened its first store in Melbourne . Both companies grew in Australia through growth and acquisitions and both were listed on the Australian Stock Exchange. In the 1980s, Coles mainly operated supermarkets and Myer operated small department stores. The two companies merged in 1987 to form Coles Myer.
Business areas
The company has a variety of business areas:
- Myer: Luxury department stores with a wide selection, a fashion brand and luxury goods, similar to the Grace Bros in New South Wales until they were renamed Myer in 2004.
- Coles Supermarkets : one of the supermarket chains in Australia.
- Bi-Lo: low-cost department stores
- Liquorland: "Bottle shops" affiliated with the Coles shops. The same division also operates "Vintage Cellers" and "Quaffers"
- Kmart: Low-cost department stores, similar to Wal-Mart stores in the US . When they opened in Australia in 1969, they were 51 percent owned by the American SS Kresge Corporation (later Kmart Corporation). In 1994 Kmart Corporation had given up any remaining stake.
- Officeworks: Officeworks offers a wide range of goods that are used in schools and offices, among others: stationery, electronics and office furniture.
- Target and Target Country: "Soft goods store", contains clothing, cosmetics and other goods. "Target Country" is the result of the renaming of the chain formerly known as "Fosseys".
- Baby Target: Sale of baby-related products (diapers, powders)
- Harris Technology: Computer accessories seller
- Megamart: selling electronic products with furniture stores located in suburban areas.
Corporate interests
Although the company enjoys a large presence in the Australian sales industry, its profitability and share price have suffered greatly since the 1987 merger. The company's flagship stores, Myer Stores, are now viewed as “category killers” because they offer “too many” numbers and types of products. Myer Store is moving away from the traditional department store.
Its supermarket business also faces stiff competition, with rival Woolworths Limited . Woolworth offers cheap gasoline as a sales alternative. In June 2003 Coles announced that it would take over Shell 's gas stations (in Australia) to deliver the same offering.
Coles Myer is also trying the “ Toys R Us ” format, in which it had various “World 4 Kids” stores built in populous cities in Australia. This cost the company many millions of Australian dollars. The “World 4 Kids” brand was later implemented as the toy department in Kmart.