Australia's Myer Holdings swings to annual loss, shares tumble

Big department store's shock result sees shares tumble

Department store operator Myer has told shareholders they won't get a final dividend after a 30 per cent drop in full-year profit driven by warehouse issues.

Australia's Myer Holdings swings to annual loss, shares tumble

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Australia’s Myer Holdings swings to annual loss, shares tumble - Regional Media News

(Reuters) -Australia’s Myer Holdings on Tuesday swung to a loss for fiscal 2025 after incurring a one-off, non-cash impairment for Myer Apparel Brands goodwill. Shares of the company dropped as much as 23.4% to A$0.49, their lowest level since late-November, 2023. The broader S&P/ASX 200 benchmark index was up 0.2% by 0043 GMT. The department store chain incurred an impairment of A$213.3 million ($140.67 million) relating to the acquisition acco…