GENERAL NEWS
DEPARTMENT store Myer’s sales almost slowed to a crawl over the past six months, as the Reserve Bank of Australia’s rapid rate hikes and...
Myer is expecting FY23 net profit after tax of between $69 million and $73 million – a tidy increase of between 15% and 21% on FY22 – but...
FY23 full-year total sales are up 12.5% on FY22 to nearly $3.363 billion, and up 12.4% on FY19, however, second-half sales were...
Group online sales returned to growth of 3.2% in the second half. FY23 group online sales were down 4.5% to $690.5 million, reflecting the favourable impact of...
“Myer’s Customer First Plan has continued to deliver both positive sales growth and positive profit growth in FY23, despite the prevailing macroeconomic headwinds that...
“We continue to tightly manage costs, inventory and cash to ensure we have a strong balance sheet as we begin FY24 where we expect the...
Australian Bureau of Statistics data for June showed department store turnover fell by 5.0%, the weakest result of all retail categories...
Myer has been undertaking an ongoing floor space rationalisation program, which it has previously stated would total 110,000 sqm in store closures or relinquished excess space...
Myer said yesterday it has a positive expected net cash position of about $120 million, compared to $186 million at the end of FY22...
Clearance inventory is at 8.0%, compared to 5.8% a year earlier, of current department store stock on hand...
This week, department store rival David Jones’ new private equity owner, Anchorage Capital, said up to 100 roles could be cut following a review to...