Myer posts $276.5M loss as impairments hit

• Myer Holdings reported a full-year statutory loss of $276.5 million.
• Sales grew to $4.1 billion, but the stock fell after missing profit expectations.
• Management points to consumer weakness and high cost-of-living pressures as key drivers.

Department store retailer Myer (ASX:MYR) reported a full-year statutory loss of $276.5 million after taking a major non-cash impairment charge.

The result marked a significant downturn compared to the $211 million loss recorded in the prior financial year.

"Consistent with the trends we observed in June and July, trading through the early part of FY27 has remained uneven, with softer conditions experienced in August followed by improving trading momentum through September, despite recent challenges in global shipping," said Myer Executive Chair Olivia Wirth.

The overall loss included a post-tax impairment of $279.6 million tied directly to group store values, goodwill, and brand intangibles.

Following the announcement, the Myer share price was down at $0.19.

Sales across key categories like women’s fashion and home goods rose between 4.7% and 5.6%, but weaker beauty sales partially offset those gains.

The company chose not to declare a final dividend for shareholders, which matches its policy from the previous fiscal year.