Highlights

  • Consensus rating of Buy from 3 analysts: 2 Buy or equivalent, 1 Hold, 0 Sell or equivalent.
  • Mean price target of A$0.35 against a share price of A$0.19 on 8 October 2026, an implied upside of 82.5%.
  • Analyst targets range from A$0.25 to A$0.53.
  • Total sales were $4,088.8 million, up 0.7% on a comparable basis and 11.3% on an actual basis, with pro forma sales up 0.3%.

Myer Holdings (ASX:MYR) carries a consensus analyst rating of Buy. Of the 3 analyst recommendations recorded, 2 are Buy or equivalent, 1 is Hold and 0 are Sell or equivalent. The mean price target is A$0.35, with targets ranging from A$0.25 to A$0.53, against a current share price of A$0.19 (8 October 2026). Myer Holdings Limited is a department store retailer that also owns the Myer Apparel Brands group, including Just Jeans, Portmans and sass and bide. The consensus data covers three analyst recommendations.

Company name

Myer Holdings

Ticker

(ASX:MYR)

Exchange

ASX (Australian Securities Exchange)

Current share price

A$0.19

Price date

8 October 2026

Number of analysts

3

Rating consensus

Buy

Consensus price target (mean)

A$0.35

Highest target

A$0.53

Lowest target

A$0.25

Implied upside/downside to mean target

Implied upside of 82.5%

Latest developments

Myer Holdings (ASX:MYR) reported its FY26 results for the 52 weeks ended 25 July 2026 on 23 September 2026. Total sales were $4,088.8 million, up 0.7% on a comparable basis and 11.3% on an actual basis, with pro forma sales up 0.3%. Myer Retail comparable sales rose 1.0%, with growth in Women's Fashion, Home, Kids, Concessions and Marketplace offset by lower Beauty sales, and Myer Apparel Brands comparable sales fell 0.3%.

Operating Gross Profit was $1,603.2 million, up 14.0% on an actual basis and 1.6% lower on a pro forma basis because of higher than planned promotional activity, with a Margin of 39.2%. The cost of doing Business was $1,189.7 million, about 29% of sales and in line with the FY26 target. Underlying EBIT was $139.4 million, down 7.0% on an actual basis and 23.5% on a pro forma basis, and underlying NPAT was $42.5 million, down 2.9%. The statutory result was a loss after tax of $276.5 million.

Myer held net cash of $100 million at 25 July 2026 and undrawn Debt facilities of $200 million after an increase and extension post year end. No final Dividend was declared, and a fully franked Interim Dividend of 1.5 cents per share was paid in May 2026. The company delivered about $20 million of synergies from the Myer Apparel Brands integration, about $17 million from its Value Creation program, and expects about $10 million of annualised synergies from FY27 from integrating sass and bide, Marcs and David Lawrence.

Sector context

The company describes challenging macroeconomic conditions and volatile trading, with higher than planned promotional activity to stimulate demand. Department store Earnings depend on consumer spending, promotions and cost control.

Risks and what to watch

Underlying EBIT fell 23.5% on a pro forma basis and the statutory loss was $276.5 million, and no final dividend was declared. Gross Profit Margin was lower on a pro forma basis because of promotional activity. Synergy delivery depends on integration execution. The consensus data covers three analysts.

Next milestones

Items to watch include trading through FY27, delivery of the remaining integration synergies, gross margin and promotional levels, any resumption of dividends, and the half-year result.