MYR myer holdings limited

News: Myer FY profit drops 14%

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    Myer Holdings Limited (ASX:MYR) has seen a 14.3 per cent slide in its full year results to $139.3 million, dragged down by high costs and a drop in sales.



    Myer’s chief says the highlight of its annual results was its strong gross profit performance which had jumped 1.3 per cent aided by the growth of its exclusive brands and a reduction in shrinkage and markdowns. 

     


    Looking ahead, Myer says it expects “cost headwinds” to remain through to next year which it anticipates to be offset by boosting gross profit margin.



    Myer provided no profit or sales guidance for the year ahead. The retailer declared a fully-franked dividend of 19 cents for the full year.

 
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