Despite its lackluster debut on the ASX on Monday, retail chain Myer Holdings Ltd
(ASX:MYR) announced today a 5.2% increase in sales revenue for the first quarter of fiscal 2010 compared to last year.
The company reported sales revenue of $717.1 million following growth in total sales revenue in the fourth quarter of fiscal 2009, up 3.1 per cent on the fourth quarter of the prior year.
Like-for-like sales growth for the first quarter for fiscal 2010 rose 2.9 per cent.
New South Wales, the ACT, Victoria and Tasmania were the best performing stores, with strong performances in the cosmetics and apparel sectors contributing to the company’s positive growth.
Myer confirmed that it is on track to achieve the prospectus pro forma forecast for growth in total sales revenue for fiscal 2010 of 3 per cent and pro forma earnings before interest and tax growth of 10.7 per cent.
CEO Bernie Brooks says the business is in good shape approaching the Christmas trading period with consumer sentiment stronger than this time last year.
