Myer shares up despite warm winter warning

May 16, 2018

Myer's third quarter sales have dropped 2.7 per cent to $635.3 million.

Myer's third quarter sales have dropped by 2.7 per cent to $635.3 million compared to the same period a year ago.

The embattled department store chain has also announced its newly appointed British chief executive John King will start on June 4 following the approval of his visa.

Announcing its results on Wednesday, Myer says its key like-for-like sales, which strips out new stores and closures, fell 3.1 per cent in the 13 weeks to April 28 and warned unseasonably warm weather in the lead-up to winter may hit profit in the fourth quarter.

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