Overview of Myer's strategic review and potential combination with Premier's Apparel Brands

Myer Holdings Limited (ASX: $MYR) has initiated a strategic review to bolster its profitability and drive sustainable earnings growth. As part of this review, Myer is exploring a potential combination with Premier Investments Limited's Apparel Brands business, aiming to create one of the leading retail and apparel companies in Australia and New Zealand.

Executive commentary on Myer's strategic review and potential combination with Premier's Apparel Brands

Myer Executive Chair, Olivia Wirth, emphasized the company's commitment to increasing profitability and driving sustainable earnings growth. She highlighted the significant opportunity to reinvest in product offerings, customer engagement capabilities, and supply chain optimization. Wirth also expressed the potential synergies and growth prospects presented by the idea of a combination of Myer and Apparel Brands, warranting further examination.

Summary of Myer's strategic review and potential combination with Premier's Apparel Brands

Myer's strategic review aims to enhance profitability and explore growth opportunities, with a focus on expanding its private label and exclusive brands portfolio. The potential combination with Premier's Apparel Brands business is seen as a strategic move to capitalize on complementary businesses, generating significant value for both Myer and Premier shareholders. The company's decision to retain ownership of iconic brands sass & bide, Marcs, and David Lawrence reflects its commitment to strategic priorities. Myer's ongoing review will continue to assess growth opportunities, with any material outcomes to be announced to shareholders.