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Myer plans to spend $9 million expanding and upgrading its online store, as it seeks grow online sales to the $30-40 million level, at least six times the current level, MD Bernie Brookes has revealed.

Myer plans to spend $9 million expanding and upgrading its online store, as it seeks grow online sales to the $30-40 million level, at least six times the current level, MD Bernie Brookes has revealed.

Brookes predicted the Web site would go from being ”average” to world-class. ”There’s no reason why it can’t explode on the basis of the offer that we have,” Brookes told Fairfax media. After a slow start, Myer was developing a multi-channel sales strategy that also included Facebook and Twitter, he said.

Brookes said the department store operations and the online sales operations would complement one another. If a department store did not have what the customer wanted, the customer could order it online – and either have it sent, or pick it up ins-store under a “click-and-collect” policy.

The CEO was commenting after Myer reported a drop in 2010-11 net profit to $163 million, from $169 million in 2009-10 – and predicted a bigger drop of up to 10 percent in the current year.

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