Myer Shares Plummet 10% After Reporting 18% Drop in Profit in Half-Year Results

Wed 19 Mar 25, 12:44 AM | Team Kalkine

Image source: Shutterstock

Highlights

Shares of Myer Holdings Ltd (ASX:MYR) took a sharp dive on Wednesday morning, plunging 10% to 68 cents following the release of its half-year financial results. Despite modest sales growth, margin pressures and operational challenges weighed heavily on investor sentiment.

For the 26-week period ending 25 January 2025, total sales rose by just 0.1% to AU$1.83 billion, while group comparable sales grew 0.8%. These figures reflect the closure of the Brisbane and Werribee stores, along with ten standalone sass & bide locations.

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