Myer says sales needed

Townsville Bulletin - - Investor -

MYER Hold­ings Ltd chief Bernie Brookes ad­mits sales need to im­prove, but says the depart­ment store group is well placed to ben­e­fit when con­sumers be­gin spend­ing. Myer says the re­tail en­vi­ron­ment re­mains ‘‘ chal­leng­ing’’ af­ter post­ing a first half net profit of $ 106.76 mil­lion, up five­fold on the prior cor­re­spond­ing pe­riod. The com­pany ex­pects a lower net profit for the full fi­nan­cial year. It says to­tal sales in the half year to Jan­uary 29 were $ 1.73 bil­lion, down 3.5 per cent com­pared to last year’s first half re­sult.

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