The department store’s sales are down 1.9 per cent in the first six weeks of the new financial year, but younger shoppers could offset the slowdown.
Myer will pay a 2023 final dividend of 1¢ per share, lower than a year ago at 2.5¢.
Myer CEO John King will step down next year and the Myer board is working with Egon Zehnder to find a replacement. Mr King told investors on a call that despite the headwinds, Myer would focus on profitable sales only: “We will not chase unprofitable sales.”Country Road’s addition in stores and online “will provide significant positive impact to our business in the coming years”.
Mr King argued Myer was well positioned to navigate economic uncertainty given its loyalty scheme and expanded brand relationships to drive “newness” through key sale periods. Myer will pay a final dividend of 1¢ a share, down from 2.5¢, on November 16. Annual dividends were 9¢ a share.The purchase by Mr Lew’s Premier Investments came shortly after Premier hired UBS to work through a potential split of its businesses.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Myer hits highest sales since 2005, but conditions are slowingThe department store owner saw its profit jump 23 per cent in financial 2023, but things are getting harder in the cost-of-living crunch.
Read more »
Myer hits highest sales since 2005, but conditions are slowingThe department store owner saw its profit jump 23 per cent in financial 2023, but things are getting harder in the cost-of-living crunch.
Read more »
Myer hits highest sales since 2005, but conditions are slowingThe department store owner saw its profit jump 23 per cent in financial 2023, but things are getting harder in the cost-of-living crunch.
Read more »
Live: Local shares open slightly higher, August jobs data to come, Myer profits up 23pcThe local share market has opened slightly higher following mixed results on Wall Street, Myer has posted its best annual sales result since 2005, and new labour force figures are out today.
Read more »
ASX higher as jobs growth tops expectations; unemployment at 3.7 per cent; Myer sales meet guidance; Terry Bowen departs Coles, BHP, TransurbanShares hold gains after 65,000 jobs added last month, unemployment steady at 3.7pc; Myer posts sales growth, Terry Bowen leaves Coles to join ROKT. Follow updates here.
Read more »
ASX higher as jobs growth tops expectations; unemployment at 3.7 per cent; Myer sales meet guidance; Terry Bowen departs Coles, BHP, TransurbanShares hold gains after 65,000 jobs added last month, unemployment steady at 3.7pc; Myer posts sales growth, Terry Bowen leaves Coles to join ROKT. Follow updates here.
Read more »