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.