Megamart was an Australian chain of stores owned by Coles Group

Coles Group

Coles Group Limited was an Australian public company that operated numerous retail chains. It was Australia's second-largest retailer, behind Woolworths Limited...

 (then Coles Myer) which sold electrical and furniture items. It was a sub-store of department store chain Myer

Myer

Myer is Australia's largest department store chain, retailing a broad range of merchandise including women's, men's and children's clothing, footwear and accessories; cosmetics and fragrance; homewares; electrical; furniture and bedding; toys; books and stationery; food and confectionery; and...

, so it was also known as Myer Megamart or Megamart by Myer. Some Megamarts were bigger than whole Myer stores alone.

According to Business reporter Stephen McMahon, the reason Megamart closed was that its "...small footprint meant it struggled to compete with rivals such as Harvey Norman

Harvey Norman

Harvey Norman is a large Australian-based retailer of electrical, computer, furniture, entertainment and bedding goods. It is effectively a franchise and the main brand owned by Harvey Norman Holdings Limited...

 and Dick Smith

Dick Smith Electronics

Dick Smith is an international electronics retailer, founded in 1968 by Richard "Dick" Smith. Today, it is a subsidiary of Woolworths Limited, incorporating Tandy, and the remaining Dick Smith Powerhouse Stores...

 - while cannibalising Myer's own sales."http://www.smh.com.au/news/business/coles-myer-kills-off-megamart/2005/11/09/1131407699632.html

History

• 1998: Myer open the first Megamart store in Coorparoo, Queensland
  Coorparoo, Queensland
  Coorparoo is a southern suburb of Brisbane, Queensland, Australia, located approximately four kilometres from the city. Surrounding suburbs include Camp Hill, Holland Park, Greenslopes, East Brisbane, Norman Park and Seven Hills.-Aboriginal history:...
  
  .
• 2001: Myer announces plans to expand the Megamart chain of furniture
  Furniture
  Furniture is the mass noun for the movable objects intended to support various human activities such as seating and sleeping in beds, to hold objects at a convenient height for work using horizontal surfaces above the ground, or to store things...
  
   and electrical stores.
• 2005: Coles Myer announces plans to "divest" Megamart due to poor performance. All stores stopped trading on 13 November. Out of the nine stores, six were bought out by Harvey Norman
  Harvey Norman
  Harvey Norman is a large Australian-based retailer of electrical, computer, furniture, entertainment and bedding goods. It is effectively a franchise and the main brand owned by Harvey Norman Holdings Limited...
  
  while the remaining three were bought by Clive Peeters.

External links

• Coles Myer kills off Megamart
• http://www.smh.com.au/news/business/harvey-norman-buys-megamart/2005/11/09/1131407680508.html Harvey Norman buys Megamart]