business strategy

Myer Steps Up Fashion Retail


In a strategy change, department store chain Myer (ASX:MYR) has declared that it will quit selling televisions and instead focus on fashion retail, cosmetics and footwear in the coming months. The company has already stopped the sale of gaming consoles and white goods.

According to analyst Scott Courtney, of Morningstar Equities, dropping certain merchandise indicates underperformance, and consumers would be less attracted to shop at Myer.

Bendigo and Adelaide Bank Rebrands New Wealth Management Division


Australian banking companies, Bendigo and Adelaide Bank (ASX:BEN), created a new wealth management division: Bendigo Wealth Management. The new unit will be headed by John Billington, who joined Bendigo last September. Bendigo Wealth brings together the group's cash, margin lending, fund management, and superannuation businesses like the Adelaide Bank, Leveraged Equities, Sandhurst Trustees and its new low-cost investment platform Trinity3.

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