Myer boss says World Youth Day will be “catastrophic” for sales

E-mail Print
Sydney retailers predict they will lose tens of millions of dollars as shoppers avoid the city during the Catholic Church's 10-day World Youth Day event.

Sydney retailers predict they will lose tens of millions of dollars as shoppers avoid the city during the Catholic Church's 10-day World Youth Day event.

Bernie Brookes, CEO of Myer, told The Sydney Morning Herald that road closures and warnings to the public to stay away would have "catastrophic" consequences. He expects the Myer city store to lose between $20 million and $30 million in sales during the event.

The limited budgets and lack of shopping time for pilgrims mean any rise in sales is unlikely, says the executive director of the Australian Retailers Association, Michael Lonie.

"Basically they, [association members] are concerned that the city is going to be deserted and people are being encouraged not to come."

However, the body that represents big business in Sydney has told retailers to get behind the event, which it predicts will market the city as a successful venue for big events. A statement from the Sydney Chamber of Commerce's executive director, Patricia Forsythe, said the "level of cynicism is disappointing".

"All this naysaying begs the question of whether we are a global city or a provincial outpost," she says. "Sydney must have an aggressive approach towards attracting major events, given the competitiveness of the international tourism market and the strength of the Aussie dollar."

Inside Retailing

Related Items :
 

50 gems from Australia's top SME entrepreneursFREE eBOOK: 50 gems from Australia's top SME entrepreneurs

In this eBook you’ll read tips and advice from some of SmartCompany's favourite entrepreneurs

Register for the SmartCompany Newsletter and receive '50 gems from Australia's top SME entrepreneurs'.

Please enter a valid email address. For example fred@domain.com .

By submitting your email you are agreeing to our Terms & Conditions.

Free Daily Newsletter
SmartCompany Newsletter Please enter a valid email address. For example fred@domain.com .
Follow us:

By submitting your email you are agreeing to our Terms & Conditions.

Sponsored Links

Business Resources

 
Smartco

DIRECT LINKS

TOPICS

OUR PARTNERS

NETWORK PARTNERS

SmartCompany.com.au is Australia's leading website for SMEs featuring business news, business information and business blogs. SmartCompany's archive of news, feature articles, entrepreneur interviews and business webinars cover topics such as advertising and marketing, buying or selling a business, starting a business, growing a business, franchising, SEO, superannuation and tax.
SmartCompany is a Private Media website

Online Solution by Valegro

Download SmartCompany eBooks: 10 quick sales and marketing wins | Steve Jobs: Lessons from a legend50 tips from Australia's top SME entrepreneurs

Popular on Partner sites: Steve Jobs Dead | Property Investment Tips | How to Write a Business Plan | Technology in Business | Business MentorsBusiness to Business | Start a Business | Small Business | How to Write a Marketing Plan | Carbon Tax | 25 start up ideas