Australia’s Myer FY26 sales rise 11.3% to A$4.08bn

Australian section store concatenation Myer Holdings posted FY26 full income of A$4.08bn ($2.85bn), up 11.3% connected an existent basis, adjacent arsenic the 2nd fractional (H2) was affected by "macroeconomic conditions and trading volatility".

For the 12 months ended 25 July 2026, pro forma full income accrued 0.3%.

The institution said this was driven by maturation successful home, womenswear and kids, unneurotic with Just Jeans, Marketplace and concession sales, and was partially offset by reduced income successful quality and Portmans, its manner and workwear retail brand.

Group comparable income roseate 0.7%.

Myer Retail recorded full income maturation of 0.7%, with comparable income up 1.0%.

Myer apparel brands reported a 1.3% diminution successful pro forma full sales, portion comparable income fell 0.3%.

Operating gross nett is expected to beryllium successful the scope of A$1.601bn to A$1.607bn.

This represents an summation of astir 13.8% to 14.3% connected an existent ground and a diminution of 2.1% to 2.5% connected a pro forma basis.

Operating gross nett borderline is expected to beryllium successful the scope of astir 39.2% to 39.3%, compared with FY25 existent ground of 38.3% and FY25 pro forma ground of 40.3%.

Myer said outgo of doing concern percent was broadly successful enactment with its FY26 people of astir 29%, contempt lower-than-expected full sales.

The institution said trading successful 2nd fractional of 2026 was volatile connected a month-to-month basis, with cost-of-living pressures weighing connected user sentiment.

It said higher substance prices linked to the Middle East conflict, 3 involvement complaint increases successful calendar twelvemonth 2026 (CY26), slower household income growth, a weaker lodging marketplace and fiscal uncertainty for galore households affected conditions.

It besides said a warmer-than-average commencement to wintertime successful astir of Australia's large cities affected trading successful June and July.

In lawsuit and loyalty, Myer Retail recorded a tag complaint of 81.5%, up from 79.5% successful FY25, portion Myer Apparel Brands reached 55.2% little than 12 months since launch.

In products and brands, the concern launched 37 caller brands successful Beauty and 29 crossed womenswear and menswear, and secured entree to planetary brands specified arsenic Fenty Beauty, La Mer, Guerlain and GAP.

Across its omnichannel network, Myer continued store web optimisation, closing 38 and opening 14 Myer Apparel Brands stores.

In sourcing and proviso chain, the radical said it continued the "Proof-of-Concept Stage" astatine the nationalist organisation centre to mitigate execution hazard for a semipermanent solution.

Myer enforcement seat Olivia Wirth said: "The 2nd fractional of FY26 has been characterised by a volatile and importantly much challenging macroeconomic and retail situation than H1 FY26 oregon FY25.