Myer Q3 sales fall 2.7%

Attributes to warm weather.

Myer has recorded total sales of $635.3 million, down 2.7% or 3.1% on a comparable store basis. Online sales totalled $35.9 million, up 49.4%.

Myer executive chairman, Garry Hounsell said, “In February, we announced a renewed focus on product, price and customer service, which delivered encouraging results during March.

“However, the unseasonably warm start to winter has impacted sales, particularly in winter apparel, shoes and accessories, which may impact profit in the fourth quarter.

“The continued strong performance in our online business is pleasing and we will continue to invest in growing this business.”

Myer also confirmed recently appointed CEO and managing director, John King, will commence on 4 June, 2018, following the approval of his visa.

The department store also advised that with effect from FY2019, it will no longer provide quarterly sales updates.

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