Myer Holdings Ltd (ASX:MYR) Shares Trade Lower as Company Releases Latest Update

Sonal Goyal

23 October 2026 02:45 PM AEDT

Myer Holdings Ltd (ASX:MYR) Shares Trade Lower as Company Releases Latest Update

Image Source: Shutterstock

You are reading a free article with opinions that may differ from the recommendation given by Kalkine in its paid research reports. Become a Kalkine member today to get access to our research reports, in-depth technical and fundamental research. Learn more

Start Your Free Trial Now!

Myer Holdings Ltd (ASX:MYR) shares were trading 1.22% lower at $0.203 during the 23 October 2026 session.
FY26 results released on 23 September 2026 showed total sales of $4,088.8 million and underlying NPAT of $42.5 million.
Statutory NPAT was a loss of $276.5 million after a $279.6 million non-cash impairment, and no final Dividend was declared.

Shares in Myer Holdings Ltd (ASX:MYR) were trading 1.22% lower at $0.203 during the Trading session on 23 October 2026. During the same session, the S&P/ASX 200 Consumer Discretionary index (XDJ) was up 1.77%, or 65.10 points, at 3,742.80 at 1:31 pm AEDT, the S&P/ASX 200 (XJO) was up 0.38% at 8,760.00 and the All Ordinaries was up 0.54% at 8,868.90. Myer Holdings operates the Myer department store network and, through Myer Apparel Brands, brands such as Just Jeans and Portmans. The company released its FY26 results on 23 September 2026, and the share price movement on 23 October 2026 has not been linked to that release.

Latest development: FY26 results (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. Pro forma total sales rose 0.3%. Operating Gross Profit was $1,603.2 million, up 14.0% on an actual basis but 1.6% lower on a pro forma basis, with the company citing higher promotional activity. Cost of doing Business was $1,189.7 million, in line with its target of about 29% of sales.

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% on an actual basis and 32.1% on a pro forma basis. Statutory NPAT was a loss of $276.5 million after a one-off, non-cash, post-tax Impairment of $279.6 million covering goodwill, Brand intangibles and stores. No final dividend was declared, and the Interim Dividend of 1.5 cents per share paid in May 2026 represented a Payout Ratio of 60.0%.

Latest development: trading conditions and strategy

Myer said trading in the second half was volatile, with cost-of-living pressures, higher fuel prices linked to the Middle East conflict, three Interest Rate increases in calendar 2026 and a warm start to winter affecting demand. It increased promotional activity, which it said was not enough to offset lower consumer spending. The company reported a record MYER one tag rate of 81.5% for Myer Retail, a record 5.3 million active members, about $20 million of synergies from the Myer Apparel Brands integration and about $17 million of benefits from its Value Creation program. It also closed 38 and opened 14 Myer Apparel Brands stores.

Latest development: Balance Sheet and early 1H27 trading

Myer ended the year with net cash of $100 million and had undrawn Debt facilities of $200 million as at 22 September 2026. In the first eight weeks of 1H27, Myer Group comparable sales were flat, up 0.2%, while actual sales were 2.7% lower. Myer Retail comparable sales rose 1.8% and Myer Apparel Brands comparable sales fell 5.9%. The company said trading remained uneven, with softer conditions in August and improving momentum through September, and expects Volatility in consumer spending to continue over the next 12 months.

About Myer Holdings and what it does

Myer Holdings operates Myer, one of Australia's department store groups, selling fashion, beauty, home, kids and other categories through stores, concessions and an online marketplace. Through Myer Apparel Brands, which includes Just Jeans, Portmans, sass & bide, Marcs and David Lawrence, it also operates apparel brands. The group's MYER one loyalty program supports its retail and retail media activities.

Risks and catalysts on watch

Items flagged in the release include volatile consumer demand, cost-of-living pressures, higher promotional activity, lower pro forma operating gross profit and earnings, the non-cash impairment, the absence of a final dividend and lower sales at Myer Apparel Brands. The company referred to recent challenges in global shipping.

Items that may attract attention include trading through the peak period, the integration synergies of about $10 million annualised from FY27, progress on the Myer Marketplace and retail media platforms, and the proof-of-concept stage at the National Distribution Centre.

In summary

Myer shares were lower on 23 October 2026 while the consumer discretionary index advanced. The company's FY26 results of 23 September 2026 reported low sales growth, lower underlying Earnings and a statutory loss after an impairment. Further updates will be released through the ASX.

Download Free Report – Explore 3 Stock Ideas & Industry Insights

Unlock 3 stock ideas and key industry insights in our free report. This information is general in nature and does not consider your personal objectives, financial situation, or needs. It is not financial advice.

All investments involve risk—consider independent advice before making any investment decisions.

View 3 Research Reports

Disclaimer:

This article (“Article”) has been prepared by Kalkine Pty Limited (ABN 34 154 808 312) (Australian financial services licence number 425376) (“Kalkine”) and its related bodies corporate who are authorised to provide general financial product advice. Kalkine.com.au and its associated pages are published by Kalkine.

Any information/advice provided in this article is general in nature and does not take into account your objectives, financial situation or needs. You should therefore consider whether the information is appropriate for your objectives, financial situation and needs before acting upon it.

There may be a Product Disclosure Statement, Information Memorandum or other offer document (“Offer Document”) for the securities or other financial products referred to in Kalkine articles. You should obtain a copy of the Offer Document and consider it before making any decision about whether to acquire the security or financial product.

Kalkine strongly recommends that you seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice) before acting on any advice/information in this Article or on the Kalkine website. Not all investments are appropriate for all people.

The information in this Article and on Kalkine website has been prepared from a wide variety of sources, which Kalkine, to the best of its knowledge and belief, considers accurate. Kalkine has made every effort to ensure the reliability of the information contained in its articles (including this Article), newsletters and websites. All information represents our views at the date of publication and may change without notice.

The information in this Article does not constitute an offer to sell securities or other financial products or a solicitation of an offer to buy securities or other financial products.

Kalkine does not issue, sell or deal in any financial products.

This Article may contain information on past performance of particular investments. Please note past performance is neither an indicator nor a guarantee of future performance.

To the extent permitted by law, and excluding any dishonesty or gross negligence by Kalkine, Kalkine disclaims and excludes all liability for any direct, indirect, implied, punitive, special, incidental or other consequential loss or damage arising from the use of or reliance on this Article, the Kalkine website and any information published on the Kalkine website without any warranties or representations by Kalkine to you. To the extent the law prohibits or limits this exclusion, Kalkine limits its liability to the resupply of services.

Please also read our Terms & Conditions and Financial Services Guide for further information.

Employees and/or associates of Kalkine and its related entities may hold interests in the securities or other financial products covered in this Article or on the Kalkine website. Any such employees and associates are required to comply with certain safeguards, procedures and disclosures as required by law.

Some of the images/music that may be used in the Article are copyright to their respective owner(s). Kalkine does not claim ownership of any of the pictures displayed/music used in the Article unless stated otherwise. The images/music that may be used in the Article are taken from various sources on the internet, including paid subscriptions or are believed to be in public domain. We have used reasonable efforts to accredit the source wherever it was indicated or was found to be necessary.

Kalkine Media Pty Ltd, an affiliate of Kalkine Pty Ltd, may have received, or be entitled to receive, financial consideration in connection with providing information about certain entity(s) covered on its website.