Myer (ASX:MYR) report NPAT up 73.6%

Company News

by Melissa Darmawan

Department store Myer (ASX:MYR) reports a rise of 76.3 per cent in their statutory profit after tax of $43 million, up from $24.4 million reported a year ago.

The company's total sales dropped 13.1 per cent to $1.4 billion mainly due to store closures and reduced foot traffic across their CBD stores in Melbourne, Sydney and Brisbane.

Their online sales grew 71 per cent to $287.6 million representing 21 per cent of total sales.

The company continues to look for a new chairman with advanced discussions underway.

Shares in Myers (ASX:MYR) are trading 9.09 per cent lower at 30 cents.

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