Myer Posts $4.076B Sales and $130M EBIT in FY25 Annual Meeting
Myer Holdings Limited reported steady FY25 financial results with $4.076 billion in sales and outlined ambitious growth strategies at its Annual General Meeting, alongside key director re-elections and executive incentives.
- FY25 total sales reached $4.076 billion with $130 million EBIT
- Dividend declared at 2.5 cents per share
- Strategic focus on omni-channel retail and supply chain efficiency
- Re-election of directors Dr Gary Weiss AM and Mr Rob Perry
- Approval of performance rights grant to Executive Chair Olivia Wirth
FY25 Financial Highlights
Myer Holdings Limited presented its FY25 financial results at the recent Annual General Meeting, reporting total sales of $4.076 billion and an EBIT of $130 million. The company declared a dividend of 2.5 cents per share, reflecting a steady return to shareholders amid a challenging retail environment. Net cash stood at $168 million, underscoring a solid balance sheet position.
Growth Strategy and Operational Focus
Myer outlined a comprehensive growth strategy centered on delivering a seamless omni-channel shopping experience, enhancing supply chain agility, and deepening customer loyalty through data-driven insights. The company is progressing with the integration of its Apparel Brands and preparing to launch Myer Exclusive Brands in the second half of FY26. Investments in digital capabilities, including a marketplace platform transition to Mirakl and the relaunch of the MYER one loyalty program, aim to strengthen customer engagement and drive sales momentum.
Trading Update and Market Performance
Early FY26 trading shows encouraging signs with a 3.0% increase in group sales over the prior comparable period. Myer Retail experienced double-digit growth in key categories such as Homewares and Womenswear, while Apparel Brands improved by 1.3%, led by mid-single digit growth at Just Jeans. Online sales continue to perform strongly, contributing to the company’s biggest Black Friday event on record.
Governance and Shareholder Resolutions
Shareholders re-elected directors Dr Gary Weiss AM and Mr Rob Perry with strong support, while external nominee Stephen Mayne was not endorsed, receiving minimal votes. The remuneration report was adopted overwhelmingly, and the grant of performance rights to Executive Chair Olivia Wirth under the FY26 Long Term Incentive Plan was approved, aligning leadership incentives with long-term shareholder value creation.
Looking Ahead
Myer’s focus on operational efficiency, product innovation, and customer loyalty positions it well to navigate ongoing retail sector challenges. The company’s commitment to digital transformation and supply chain enhancements will be critical to sustaining growth and profitability in a competitive market.
Bottom Line?
Myer’s FY25 results and strategic initiatives set the stage for a pivotal year ahead as it seeks to convert growth plans into tangible shareholder value.
Questions in the middle?
- How will Myer’s transition to the Mirakl marketplace platform impact sales and customer experience?
- What are the risks and timelines associated with the NDC long-term logistics solution currently in proof of concept?
- How might shareholder dynamics evolve following the low support for the external nominee Stephen Mayne?
