Myer’s mammoth task

Myer has conceded that its growth strategies have not generated the expected lift in sales and earnings. While the department store chain secured a 1.5 per cent gain in sales for the first half of the current financial year ended January 24, costs have savaged profitability and represent a significant challenge for the future. Myer’s sales for the latest half were $1.76 billion, up 0.9 per cent on a comparable stores basis, with revenues continuing to be affected by store refurbishments and re

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