Myer (ASX:MYR) has reported record first half sales of $1,884.9M for 2023, representing a growth of 24% year-on-year, and 17.2% higher than 1H20 (pre-Covid).
The fashion retailer also reported a NPAT (net profit after tax) of $65M, which is the highest since 1H14.
Myer also says its net cash was up $50M to $267M, which is a net cash position for all of 1H23.
It also declared an interim dividend of 8 cents per share fully franked, saying it demonstrates the confidence being built as it moves through the financial year.
Inflation might be up, but shopping is a pastime that’s clearly not going anywhere. Myer says department store sales were up over 16% in the eight weeks post-Christmas, compared to the same time the year before.