Myer Holdings Weathers Economic Challenges

Myer Holdings Limited (AU:MYR) has released an update.

Myer Holdings Limited reported a modest increase in FY24 comparable sales by 0.4% and online sales growth of 2%, despite a total sales decline of 2.9% due to store closures and challenging economic conditions. The company’s loyalty program showed strong engagement, and a strategic review is underway to improve profitability, including retaining sass & bide, Marcs, and David Lawrence and exploring a partnership with Premier Investment’s Apparel Brands. Myer also declared a final fully franked dividend of 0.5 cents per share, totaling a 3.5 cents dividend for the year.

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