Myer reviews 40 per cent droop in FY25 half-year | Australian Markets
Iconic division store giant Myer has reported a crash in income, with the company blaming “cautious’ shoppers and a troubled business reset for the slump.
The company announced $30m in net profits for the first half of the 2025 financial year, a 40 per cent decline on the prior period.
Total revenues, meanwhile, were flat at $1.83bn.
Myer executive chair Olivia Wirth blamed a “tough macro environment” and issues on the company’s new national distribution centre for the revenue hit.
“Despite challenging trading conditions in a tough macro environment and complications experienced at our national distribution centre, Myer traded well throughout the all-important Black Friday and Christmas trading periods,” she stated.
Shares within the company crashed more than 4 per cent on the opening bell on Wednesday morning.
Extra to come back
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