Myer: Result 2014

It wouldn’t be the first time Myer has disappointed investors. The stock has fallen 18% since releasing its full-year result but lost almost half its value since listing in 2009. Revenue was flat at $3.1bn for the year to 26 July due to store closures and anaemic same-store sales growth of just 1.2% thanks to ‘subdued consumer sentiment and unseasonably warm weather’. The real issue, however, was rising labour, rent and refurbishment costs causing net profit to fall 23% to $99m and the board to cut the final dividend by 31% to 5.5 cents. Myer isn’t doing itself any...

It wouldn’t be the first time Myer has disappointed investors. The stock has fallen 18% since releasing its full-year result but lost almost half its value since listing in 2009.

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