A supply and retail logistics program that reduced inventory levels has allowed the Myer department store chain to pay down $100 million of debt early.
When the new management of Myer, bought by a private equity group led by Texas Pacific Group, started a stock take in May, they recognised how overstocked the chain was.
Clearance sales from late June has enabled Myer not just to clear excess stock from its stores, but also permanenty reduce its inventory levels.
