The (Top) Ryde is over for Myer

Myer has confirmed that it will quit the Top Ryde City shopping centre in Sydney, and abandon its trial of standalone specialty stores in Melbourne. The Top Ryde announcement, which was flagged last month by Inside Retail PREMIUM, follows a decision to cut 80 jobs in the Myer head office in Melbourne. The Top Ryde store was opened four years ago with projected annual sales of $30 million but is understood to have struggled to generate around $20m and has cannibalised sales from other nearby

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