Key highlights

  • Myer reported FY26 total sales of $4,088.8 million, up 0.7% comparable, and underlying EBIT of $139.4 million, down 7.0%, in its 23 September 2026 release.
  • Statutory NPAT was a loss of $276.5 million after a $279.6 million non-cash post-tax impairment.
  • No final Dividend was declared, and net cash was $100 million.

Myer Holdings Ltd (ASX:MYR) shares closed at $0.205, down 2.38%, on 21 October 2026. The S&P/ASX 200 Consumer Discretionary [XDJ] index closed at 3,741.90, up 0.34% (12.50 points), while the S&P/ASX 200 [XJO] finished at 8,831.30, up 0.16%, and the All Ordinaries at 8,956.60, up 0.14%, as at 5:00 pm GMT+11. Myer is an Australian department store group that also owns the Myer Apparel Brands portfolio.

What Myer does

Myer Holdings Limited operates the Myer department store network and online marketplace, plus Myer Apparel Brands, which includes Just Jeans, Portmans, sass & bide, Marcs and David Lawrence.

FY26 results

In an ASX release dated 23 September 2026 for the 52 weeks ended 25 July 2026, Myer reported total sales of $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%, and Myer Apparel Brands comparable sales fell 0.3%. Operating Gross Profit was $1,603.2 million, with Margin of 39.2%, and underlying EBIT was $139.4 million, down 7.0% on an actual basis and 23.5% on a pro forma basis. Underlying NPAT was $42.5 million, down 2.9%.

Impairment, dividend and balance sheet

Statutory NPAT was a loss of $276.5 million, reflecting a one-off, non-cash, post-tax Impairment of $279.6 million relating to goodwill, Brand intangibles and stores. No final dividend was declared, and the Interim Dividend of 1.5 cents was a 60.0% payout. Net cash was $100 million at 25 July 2026, with undrawn facilities of $200 million after an increase and extension of Debt facilities. Integration synergies delivered about $20 million, and the Value Creation program delivered about $17 million.

Sector context

Consumer discretionary companies depend on household spending, travel, leisure and housing activity, and they are tracked through the S&P/ASX 200 Consumer Discretionary index, which closed at 3,741.90, up 0.34%, on 21 October 2026 alongside a 0.16% rise in the S&P/ASX 200 to 8,831.30. Department store sales depend on consumer confidence, promotional activity and category mix.

Risks and uncertainties

Underlying EBIT fell on a pro forma basis, higher promotions reduced pro forma gross profit, and the impairment produced a statutory loss. Beauty sales were lower, and consumer demand, competition and cost pressures can affect outcomes.

Catalysts to watch

Items to watch include Myer Apparel Brands performance, synergy delivery, trading updates and the first-half FY27 result.

Final word

Myer’s 23 September 2026 release recorded modest sales growth, lower underlying Earnings and a large impairment. The next update will show trading.