Business
Myer swings to $172m loss as it takes huge pandemic hit – Sydney Morning Herald
Myer chief has warned the retailer may have to shut or drastically shrink some of its flagship stores thanks to the COVID-19 pandemic’s impact on CBD shopping.
“The fact is that CBD stores were walloped pre-COVID, during COVID and even post the lockdowns as well. All the big cities are in the same boat around the world, doesn’t matter if you’re in Melbourne or Madrid.”
The chief executive’s comments come as the struggling department store chain swung to a $172 million loss for the past financial year after the retailer was forced to write down the value of its brand names after being battered by the COVID-19 crisis.
Myer told investors on Thursday it…
-
General15 hours agoMan arrested after alleged carjackings, dramatic pursuit in Melbourne CBD
-
Noosa News18 hours agoHow to help kids prepare for music exams and competitions and manage performance anxiety
-
General18 hours agoSix NRL players named in England rugby league Ashes sqaud, Man of Steel winner not selected
-
Noosa News18 hours ago‘Stolen’ Skoda speeds near Dreamworld with police helicopter watching