Myer has reported a 3 per cent increase in sales during the first 19 weeks of the financial year, with executive chairwoman Olivia Wirth noting the company’s record-breaking Black Friday performance. Myer is an Australian department store chain offering a wide range of products including apparel, homewares, beauty, and electrical goods. The company aims to provide customers with a diverse shopping experience through its physical stores and online platform.
The sales growth was primarily fuelled by a 3.4 per cent increase in Myer retail sales. Specific categories such as homewares, womenswear, and concessions experienced double-digit sales growth. Myer apparel brands also saw a positive trend, increasing by 1.3 per cent, which was attributed to improvements in the performance of Just Jeans.
Addressing shareholders at the annual meeting, Wirth stated that Myer remains focused on maintaining its cost of doing business as a percentage of sales at approximately 29 per cent. The company affirmed that it is currently on track to achieve this financial target. The results reflect the company’s continued efforts to optimise its retail operations and enhance its brand portfolio.
