The Myer Holdings Ltd (ASX: MYR) share price has risen 6% in response to the company’s FY26 result.
Myer is best-known as a department store business, but it also has a number of other brands including Jacqui E, Just Jeans, Portmans, Dotti, Sass & Bide, Jay Jays, David Lawrence and Marcs.
FY26 result
The business reported some comparable numbers and actual numbers. It did acquire the apparel brands, which has boosted the actual numbers, but the comparable figures say how the business performed if it had been owned the whole time.
Here are the highlights for the 52 weeks to 25 July 2026:
- Total sales of $4.09 billion grew 0.7% on a comparable basis, and 11.3% on an actual basis
- Operating gross profit was $1.6 billion, up 14% on an actual basis
- Cost of doing business (CODB) was $1.2 billion
- Underlying EBIT (EBIT explained) was $139.4 million, which was 7% lower on an actual basis, 23.5% lower on a pro forma basis
- Underlying net profit was $42.5 million, down 2.9% on an actual basis, 32% lower on a pro forma basis
- Statutory net loss of $276.5 million, down 35.3% on an actual basis
Underlying earnings suffered, reflecting the inclusion of Myer apparel brands and investment to drive strategic priorities.
The statutory net loss suffered from a $279.6 million hit, relating to goodwill, brand intangibles and store impairments across Myer.
Myer decided to not to pay a final dividend, so the only dividend for the year was the HY26 interim dividend of $0.015.
Outlook for the Myer share price
The company provided a trading update for the first eight weeks in the first half of FY27.
It said that Myer Group’s comparable sales were up 0.2%, though actual sales were 2.7% lower.
Myer Retail (which excludes the new apparel brands) reported comparable sales were 1.8% higher, though actual sales were 1.9% lower.
Myer Apparel Brands saw comparable sales decline 5.9% and actual sales fell 6%.
The ASX share said it’s targeting the FY27 CODB at around 29% of total sales, which would be similar to FY26.
Overall, the market seems to like it, though it didn’t exactly have exciting numbers to report. It’s not one I’m looking to invest in for my own portfolio, but it wouldn’t take much to drive a turnaround.
