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Myer’s net profit tumbles as labour, marketing costs increase

Inside Retail

Myer’s net profit declined 18 per cent to $42 million in the first half, reflecting what the company described as an increase in the cost of doing business. billion, attributed to mixed trading conditions, store closures, and Myer Exclusive Brands stock trapped at its national distribution centre. .

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What’s driving the transformation of China’s department stores?

Inside Retail

Once seen as a staple of urban retail, department stores in China are undergoing a transformative reinvention. Market struggles Chinas department-store sector has long been a foundational part of the countrys commercial infrastructure, but in recent years, it has been under mounting pressure.

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Wesfarmers posts higher net profit on higher Bunnings, Kmart, Officeworks sales

Inside Retail

Wesfarmers posted higher net profit amid stronger sales across its retail businesses in the fiscal first half ended December 31. The group’s net profit rose 2.9 The post Wesfarmers posts higher net profit on higher Bunnings, Kmart, Officeworks sales appeared first on Inside Retail Australia.

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Woolworths books higher net profit, sales in first half

Inside Retail

Solid results in the Australian food and B2B business segments drive an increase in first-half sales and net profit for Woolworths Group. The supermarket group’s net profit rose 2.5 While Big W sales fell 6 per cent, Woolworths said it is optimistic to see the department store improve in the fourth quarter.

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Myer’s profit declines amid store closures, underperformance of some brands

Inside Retail

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

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Myer sees elevated annual sales, but is cautious amid economic headwinds

Inside Retail

Department store chain Myer delivered its highest full-year sales since 2005 this year but remains cautious as consumer spending declines due to unfavourable economic conditions. per cent of total sales – and a 10 per cent increase in productivity gains at physical stores. . ” Net profit rose 18.2

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Myer bounces back to profitability, names new chair

Inside Retail

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 Myer’s profit is a strong improvement on the $172.4