.
Myer Holdings Limited (ASX:MYR) chief Bernie Brookes has warned the department store retailer may cut Sunday trade in some stores.
According to the Australian Financial Review, higher wages will cost Myer $40 million this year and Mr Brooks has considered exiting Sunday trade because it is uneconomical to pay 200 per cent penalty rates.
The report comes one day after Myer revealed a 19.8 per cent first half profit fall and forecast a full year profit drop of about 10 per cent.
The National Retail Association’s executive director Gary Black yesterday told ABC, “The jobs crisis unfolding in retail dwarfs the predicament and dilemmas that are confronted by the demise of the Australian manufacturing sector”.
Shares in Myer shed 3.28 per cent yesterday to close at $2.29.
Myer yesterday posted a first half net profit of $88 million.
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Last
62.5¢ |
Change
0.000(0.00%) |
Mkt cap ! $1.080B | |||
| Open | High | Low | Value | Volume |
| 62.5¢ | 63.0¢ | 61.5¢ | $1.695M | 2.728M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 64290 | 62.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 63.0¢ | 217255 | 7 |
View Market Depth
| Last trade - 16.10pm 08/08/2025 (20 minute delay) ? |
| MYR (ASX) Chart |