Myer Holdings Limited (ASX:MYR) has reported its first half net profit dropped 19.8 per cent to $87.3 million.
The retailer attributed the result to a decline in consumer confidence.
First half sales fell 1.7 per cent to $1.7 billion.
Looking ahead, Myer has reconfirmed its full year net profit guidance of no worse than 10 per cent below its 2011 full result.
A fully franked interim dividend of $0.10 per share has been declared.
