Free Subscription

  • Access 15 free news articles each month

Professional

Try one month for $4
  • Unlimited access to news,insights and opinions
  • Quarterly and weekly magazines
  • Independent research reports and forecasts
  • Quarterly webinars with industry experts
  • Q&A with retail leaders
  • Career advice
  • 10% discount on events

Myer results “muddied” by Covid support, retail experts say

Myer sharply reduced its cost of doing business in the first half of FY21, thanks to millions in rent waivers and JobKeeper payments, but the ongoing impact of Covid-19 continued to weigh on the department store’s overall sales.  Total sales were down 13.1 per cent year on year to $1.398 million in the 26 weeks to January 23, 2021, and comparable sales were down 3.1 per cent year on year. Myer attributed these results to forced store closures and reduced foot traffic, particularly in the