(COMTEX)     B: Acid test for bricks and clicks
B: Acid test for bricks and clicks
 
Nov 6, 2001 (The Sydney Morning Herald - ABIX via COMTEX) -- Coles Myer's
online retailing business, e.colesmyer, is under review in November 2001. At the
very least, e.colesmyer will be cut back. Coles Myer's new CEO, John Fletcher,
said the online business needs to generate profits soon if it is to be retained.
He also indicated that one of its core elements - the Myer Direct catalogue
business - has a limited future. Without any profit, and with Coles in
restructuring mode, the board is unlikely to be patient with what is ultimately
an expensive experiment. E.colesmyer lost $A27m in earnings before interest and
tax in 2000-01, despite a 23.4% rise in revenue to $A292m.
 
 
 E.COLESMYER PTY LTD:
 COLES MYER LIMITED - ASX CML:
 COLES ONLINE PTY LTD:
 MYER DIRECT:
 OFFICEWORKS SUPERSTORES PTY LTD:
 HARRIS TECHNOLOGY:
 BRAMBLES INDUSTRIES LIMITED - ASX
      BIL:
 CHEP
 
By Stephen Bartholomeusz
 
 All copyright subsisting under the Copyright Act 1968 (Commonwealth) resides in
us. No part of the
 copyright materials may be reproduced, re-used, re-transmitted, adapted, publis
ed, broadcast or
 distributed for any commercial purposes whatsoever without our prior written pe
mission.
 
-0-
 
 
 INDUSTRY KEYWORD: Food Retailing
                   Personal and Household Good
                   Retailing
                   Communication Services
 SUBJECT CODE:     SUPERMARKETS - AUSTRALIA
                   RETAIL TRADE - AUSTRALIA
                   ELECTRONIC COMMERCE - AUSTRALIA
                   INTERNET INDUSTRY - AUSTRALIA
                   TELESHOPPING - AUSTRALIA
 
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