14 September 2020
The Weekly
Australia

For the 52 weeks to July 25, 2020, total sales at Myer were down 15.8% to AUD$2,519.4mn ($1,831mn), which the company said, reflected widespread store closures. The company added that comparable store sales for the year were down 3.3%, while group’s online sales rose 61.1% to AUD$422.5mn ($307mn). The company suffered a statutory loss of AUD$172.4mn ($125.3mn) against the net profit of AUD$24.5mn reported in the previous corresponding year. The company further said that operating gross profit (OGP) margin decreased by 85 basis points to 38%, while net loss after tax was AUD$11.3mn ($8.2mn) and EBITDA was down 41.6% to AUD$93.5mn.

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