Myer Reports 11.3% Sales Growth in FY26
Australian department store chain Myer Holdings reported total sales of A$4.08 billion for the fiscal year ending July 25, 2026, representing an 11.3% increase on an actual basis despite macroeconomic challenges and trading volatility in H2. The growth was driven by strong performance across home goods, women's wear, kids' clothing, Just Jeans, Marketplace, and concession sales. However, this was partially offset by weaker results from beauty products and Portmans, its fashion retail brand. Myer expects operating gross profit to range between A$1.601 billion and A$1.607 billion with a margin of 39.2%–39.3%, up slightly compared to FY25 actuals but down from pro forma figures. The company faced headwinds including cost-of-living pressures, higher fuel prices due to the Middle East conflict, interest rate hikes in CY26, and a weaker housing market. Despite these challenges, Myer continued its omnichannel strategy with store network optimization and new brand launches.
Topics: operating_profit retail sales_growth