Myer reports FY26 sales of $4.09B

• Myer reported preliminary total sales of $4.09 billion for FY26, representing an 11.3% increase on an actual basis.
• The group's operating gross profit fell between 13.8% and 14.3% on an actual basis due to increased promotional discounting.
• Management highlighted that sustained cost-of-living pressures and interest rate rises impacted trading sentiment throughout the second half.

Myer Holdings (ASX:MYR) reported preliminary total sales of $4.09 billion for the 2026 financial year, marking an 11.3% increase on an actual basis.

Pro forma total sales grew 0.3% compared to the prior corresponding period, while Myer Apparel Brands pro forma sales declined 1.3%.

The source document did not contain an executive quote for this release.

Operating gross profit dropped to between $1.61 billion, driven by higher promotional activity to stimulate consumer demand.

Management expects the cost of doing business to remain broadly in line with its target of approximately 29% despite lower-than-expected sales.

Following the announcement, the Myer Holdings share price was down at $0.26.

The retail group noted that three interest rate increases in 2026 and higher fuel prices constrained Australian household budgets.

Trading volatility persisted into June and July following a brief sales recovery in May across major product categories.