After downgrading its full year profit expectations, department store chain Myer has promised an additional $2 million for media advertising in the hope of reviving sales.
The company expects full-year profits to slide as much as 15% below the 2011 result of $162.7 million.
Chief executive Bernie Brookes blamed the poor results on consumer uncertainty and rising costs.
Despite the downturn, he has promised an additional $2 million in media spend, with the hope of boosting sales.
However, the boost is not massive when Myer's total annual media spend is considered.
According to Nielsen, Myer spent an estimated $51.8 million on main media in the 12 months to March 2012, down from $61.3 million in the prior period.
Even with an extra $2 million, the total media spend would not reach the heights of the previous corresponding period.
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