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Highlights
- Myer department stores report 1.9% sales growth in H2 FY25
- Online sales now represent over 21% of total revenue
- Ongoing transformation supports Myer’s place among ASX200 companies
Myer Holdings Ltd (ASX:MYR) has delivered encouraging sales growth during the second half of the 2025 financial year, despite ongoing challenges in the retail sector. The company’s department stores experienced a 1.9% rise in total sales to A$837.2 million, supported by a 1.5% increase in comparable sales. This positive momentum was bolstered by a strong loyalty program and a notable 9% growth in online sales, which now account for 21.4% of total revenue, reflecting changing consumer habits and increased digital engagement.
However, the recently integrated Apparel Brands portfolio—which includes Just Jeans, Jay Jays, Jacqui E, Portmans, and Dotti—faced a more subdued period. Total sales for this segment declined by 3.9% to A$211.2 million, with a 3.7% fall in comparable sales and a 3.5% dip in online sales. These figures come amid ongoing efforts to fully integrate these brands into Myer’s broader retail strategy.
The retail landscape continues to present several hurdles, including inflationary pressures affecting store wages and occupancy costs, alongside challenges linked to the National Distribution Centre’s automation and integration delays. To address these, Myer has implemented interim solutions such as partnering with third-party logistics providers to handle a significant portion of online order volumes, easing operational strain during peak trading periods.
This transitional year is a critical phase in Myer’s strategic repositioning. The company is strengthening its leadership team and embedding Apparel Brands into an omni-channel retail model, aimed at long-term growth and resilience. These efforts also involve refinancing debt and streamlining supply chain operations, reflecting a clear focus on stability and operational efficiency.
For investors interested in ASX dividend stocks, Myer’s approach highlights its commitment to maintaining a competitive edge in the dynamic retail sector. As a component of the ASX200 index, Myer’s progress is closely watched by market participants looking for robust retail opportunities in a shifting economic environment.
Further insights into Myer’s strategic plans and growth ambitions will be revealed during its upcoming Investor Strategy Day on May 28, 2025, providing additional clarity on the company’s path forward within the ASX200.
