Myer stated in an early financial report that while total sales were down 0.8 per cent to about US $ 978 million, comparable sales so far this year were comparable to last year.
According to a statement from the company, the Werribee store’s temporary shutdown from 14th February to 29th November 2024, had an impact on sales.
Commenting on the trading update, Myer executive chair Olivia Wirth noted that despite the challenging trading conditions in the retail sector, influenced by a tough macroeconomic environment, the company’s year-to-date sales performance has remained stable.
The business further stated that difficult macroeconomic circumstances, as well as higher expenses and ramp-up complexity at the new National Distribution Centre in Ravenhall, had affected Myer’s year-to-date financial performance and postponed the achievement of anticipated advantages.
