Business
‘Deterioration’: Myer profits tumble 800% in ‘tough’ conditions – Yahoo Finance Australia
Myer chief John King said closing stores was the hardest decision the retail giant has made in 120 years.
Myer has posted a statutory net loss after tax of $172.4 million for the 2020 full year, a decline of more than 800 per cent on last years $24.5 million statutory profit.
The retail giant recorded a net loss after tax of $11.3 million, or a 140 per cent decline on 2019s profit of $33.2 million, with Myer choosing to continue to suspend dividend payments.
The corporate earnings report revealed total sales were down nearly 16 per cent as a result of widespread store closures, with chief executiv…
-
Noosa News22 hours agoStar Entertainment signs $300m lifeline deal with US gaming giant Bally’s
-
Noosa News22 hours agoCopperString transmission line projected to cost almost $14b amid massive blowout
-
General22 hours agoMyanmar earthquake rescue efforts wind down as death toll hits 3,600
-
Noosa News23 hours agoAnother All-Star Cast, Another Tale of Family Chaos: The Trailer for Wes Anderson’s ‘The Phoenician Scheme’ Is Here