Myer Holdings (ASX:MYR) see 3.8% drop in H1 sales

Company News

by Rachael Jones

Retail giant Myer Holdings (ASX:MYR) has reported a 36.5 per cent drop in first half profit to $24.4 million.

Sales dropped 3.8 per cent to $1.6 billion.

Online sales up 25.2 per cent to $168.2 million, now representing 10.5 per cent of total sales.

They did report improved execution of peak trading periods including Black Friday and Christmas.

They also noted Increased gross profit in Menswear, Homewares and Childrenswear, despite several brand exits, including Apple and the Country Road Group brands.

Shares in Myer Holdings (ASX:MYR) are trading 0.72 per cent higher at $0.35.