Department store Myer (ASX:MYR) has announced a 3.1 per cent drop in third quarter sales.
The company says the drop was due to unseasonably warm weather, which affected sales of winter apparel, shoes and accessories.
Weather conditions may also impact fourth quarter sales.
Online sales went the other way increasing by 49 per cent to $36 million for the quarter.
The company also announced that it’s incoming CEO John King will take up the role on the 4th of June, it’s hoped he will be able to turn the troubled department stores sales around.
Shares in Myer (ASX:MYR) have risen 1.33 per cent to 38 cents.