Department Stores Management Net Profit 
Inside Retail
SEPTEMBER 19, 2024
Myer saw a decline in net profit in the last fiscal year due to the underperformance of Sass&Bide, Marcs, and David Lawrence, inflationary pressures, and store closures. The department store chain’s net profit fell 26 per cent to $52.6 million as sales dipped 2.9 per cent to $3.27
Inside Retail
AUGUST 7, 2024
Myer has flagged a drop in profit for this fiscal year, largely due to underperformance at its three specialty brands amid macroeconomic challenges. The department store chain expects net profit after tax of between $50 million and $54 million for FY24, compared to $71.1 million in the prior year.
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Inside Retail
SEPTEMBER 1, 2022
Shinsegae — one of the Big 3 of Korean department store retailing along with Lotte and Hyundai — has continued its great form right through into the second half of the year, helped by the removal of the country’s remaining pandemic restrictions and an increasingly buoyant mood among the country’s more affluent consumers.
Inside Retail
AUGUST 19, 2024
Vicinity Centres has acquired a 50 per cent stake in the Lakeside Jundaloop shopping centre in Western Australia from Future Fund for $420 million, and will co-own it with Lendlease-managed Australian Prime Property Fund – Retail. Vicinity’s net profit grows 101.5 Vicinity’s net profit grows 101.5
Inside Retail
SEPTEMBER 15, 2021
Department store Myer has enjoyed the fruits of a rebounding retail environment in FY21, with total sales up 5.5 billion – 20 per cent of which were made online – leading to a statutory net profit figure of $46.4 Myer’s profit is a strong improvement on the $172.4 per cent to $2.65
Inside Retail
AUGUST 11, 2021
The fight for board control of department store Myer will be decided in the next few months, with the firm’s AGM likely to run in late October, but Solomon Lew’s major stake in the business could well be diluted by the time to vote. Department store sales up this year. million, up 5.5 per cent to $539 million.
Inside Retail
AUGUST 25, 2021
Best & Less’ first financial year as a public company exceeded its own expectations, with strong earnings and like-for-like sales growth driving a net profit result 191 per cent up on the prior year. The department store business saw total sales hit $663.2 The department store business saw total sales hit $663.2
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