Myer chief executive officer and managing director Richard Umbers said the company's strategy was designed to deliver a "sharper and more focused offer, and improve productivity across the entire business".

“These difficult but important decisions are a necessary step in the delivery of the new Myer strategy, which is designed to return Myer to profitable growth," he said.

“While decisions to close stores are never easy, the process of reshaping our store network to better align with our primary customers is an essential part of the strategy."

Myer will exit its stores in Wollongong this October and Orange in January 2017 following their respective lease expiry dates.

The Orange store will close after 30 years.

“We are committed to supporting all impacted team members, and we will work with them through this process,” Mr Umbers said.

A development application has already been lodged with Orange City Council for a Harris Scarfe department store, specialty shops and a revitalised Post Office Lane.

More to come.