A decision made six years ago to centralise the storage and distribution of the Premier Investments range of products is paying off with record online sales and profits.
It says a lot about the diverging fortunes of Premier Investments and the once great Myer department store chain that Premier's 2021 first half earnings are more than Myer's total equity capital and almost as much as its market capitalisation.
This would have been inconceivable a decade ago. The transformation of Premier into the country's leading retail fashion clothing platform and Myer's gradual demise are a stark reminder of the pressures on companies to constantly adapt.
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Tony Boyd is the former Chanticleer columnist. He has more than 35 years' experience as a finance journalist. Connect with Tony on Twitter. Email Tony at tony.boyd@afr.com
