Myer boss says FY18 results ‘disappointing’ shareholders deserve better

Company News

by Anna Napoli

Last Movement
$0.555 -$0.010 -1.79%
Data Source:
Last Updated: 19/06/2019 3:22 PM

Department store, Myer (ASX:MYR) has reported a statutory FY18 loss of $486 million.

Total sales were down 3.2 per cent on the previous year to $3.1 billion.

The retailer has not declared a final dividend.

Myer CEO John King says the results are obviously disappointing and shareholders deserve better.

Shares in Myer (ASX:MYR) are trading 5.75 per cent lower to 41 cents.

Anna Napoli

Finance News Network
Anna joined FNN February 2018 and also works with Channel 7 as a freelance producer. Anna has also worked as a lawyer and lecturer. She has also presented news updates for interstate news with Southern Cross Austereo.