One thing we do here occasionally is admit we've got something wrong. OK, perhaps more than occasionally. If we're playing Honesty, it near on takes up three-quarters of our time.

So it is with battle-weary department store Myer, under the leadership of chief executive Richard "No Numbers" Umbers. The former British Army officer procured (pun intended) the derisive moniker during his stint at Woolworths – that's the Fresh Food People, not the Jaapie owners of David Jones – running the ironically named Everyday Rewards (the name "One Day You'll Earn a Free Rice Bubbles Valuepack" was too unwieldy, and literal) and carried it to Australia Post, too.