Myer department store at Hornsby in Sydney's upper north shore closes after 40 years

Myer has closed a department store in a wealthy area of Sydney in a sign Australia's retail sector is in serious trouble. Myer has closed a department store in a wealthy area of Sydney in a possible sign Australia's retail sector is in trouble Last year was a particularly bad one for Australian retailers, with cash register activity falling by an annual pace of 0.2 per cent in September, marking the biggest decline since the June 1991 - when Australia was last in recession Myer's previous chief executive Richard Umbers announced the Hornsby store closure in September 2017. Canstar group executive of financial services, Steve Mickenbecker, said the closure of Myer's Hornsby store in a wealthier part of Sydney showed even richer households were feeling the pinch financially. Myer's previous chief executive Richard Umbers announced the Hornsby store closure in September 2017 Daily Mail Australia observed a dozen bottles of champagne in a plastic container being brought to the empty shop floor, on the second level of Westfield, as the last customers finalised their heavily-discounted purchases of cosmetics shortly before 5pm on Sunday Myer store closures Hornsby, Sydney's Upper North Shore: January 2020 Noarlunga Centre, Adelaide's south: March 2018 Brookside, Brisbane's north-west: January 2017 Orange, New South Wales Central West: January 2017 Wollongong: October 2016 Top Ryde, Sydney's north: July 2015 Hurstville, Sydney's St George area: January 2015 Elizabeth, Adelaide's north: February 2014 Fremantle, Perth's south-west: January 2013 Brett Dyson, Myer's general manager of stores in New South Wales and the Australian Capital Territory, said the department store had tried to move staff to other outlets, following the end of the lease in Hornsby. Department stores have been facing challenges from specialist electronic stores, like JB Hi-Fi, and online outlets offering better deals Canstar group executive of financial services, Steve Mickenbecker, said the closure of Myer's Hornsby store in a wealthier part of Sydney showed even richer households were feeling the pinch financially Myer made a net profit of $33.2million last year.