Myer says sales needed
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.