Although Myer has cut its spending estimates for this year, the company yesterday indicated it will continue to focus on IT and separate out the last of its systems from parent Coles.
Last year at the retailer's full year results presentation, Myer forecast it would spend AU$36 million on IT in 2008. At yesterday's half yearly results presentation, however, it put the figure at AU$26 million. By contrast, the forecast for 2009 spending has risen to AU$44 million from the predicted AU$32 million.
Despite the 2008 spending cut, Myer still intends to roll out a new point of sale system within the next twelve months to all its stores and finish the divorce of its systems from former parent Coles' IT.
The company, which has already installed new IT systems in its distribution centres, also hopes to increase production efficiencies in the supply chain by implementing further IT enhancements, and to improve collaboration with suppliers by introducing e-commerce initiatives.
"When we took ownership of Myer 22 months ago, the business was suffering from years of under-investment. We have made great progress in building a world-class supply chain, implementing our 101 business improvement project as well establishing standalone information technology and human resources functions," Myer chairman Bill Wavish said in the presentation.