The CTO said the reduced interest charges for refinancing will kick in for part of 2H 25: a benefit for 2H of $4 million, or $7 million in a full year.
The CEO said shrinkage has been at heightened levels, a message other retailers have also highlighted. MYR has made some headway: in FY 24, it was a cost of $40 million in FY 24 but in 1H 25 as noted above decreased 12.9 per cent. It might come in for the full year at $32 to $35 million, one per cent of sales.
Sales remain unstable: it isn't stabilising as yet: volatility, caution among consumers and mixed trading conditions, including between the states. (Victoria may well be the worst).
That 54 per cent of new Myer One members are aged under 35 is very encouraging. As previously announced, MYR One will be relaunched towards the end of the year. (Not sure if this means 'near the end of FY 25 (31 July)' or 'calendar 2025'.
MYR is Australia's second largest purchaser of apparel: this gives scale. It can leverage this from a group perspective. Potential upside.
MYR Price at posting:
73.0¢ Sentiment: Hold Disclosure: Held
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