Myer Holdings Limited (ASX:MYR) has posted its third quarter sales of $651.1 million, a 0.96 per cent decline compared to last year.
Like for like sales fell 2.1 per cent.
In the third quarter, Myer says its strongest brand was women’s youth label Miss Shop as well as womenswear and menswear categories.
Online sales were up by over 200 per cent compared to last year.
The department store plans to refurbish its Highpoint store in Victoria and will be opening its two new stores at Fountain Gate, Victoria and Townsville in Queensland during the fourth quarter.
Myer says it expects a challenging retail environment ahead and anticipates its full-year net profit to be no worse than 15 per cent below last year’s result of $162.7 million.
Myer posted a first-half net profit of $88 million.
