Myer Holdings in Australia Reports Annual Loss, Shares Plummet

Financial Loss: Myer Holdings reported a statutory net loss of A$211.2 million for fiscal 2025, primarily due to a one-off, non-cash impairment of A$213.3 million related to its apparel business acquisition.

Stock Performance: Following the announcement, Myer's shares fell by as much as 23.4% to A$0.49, marking their lowest level since late November 2023, while the broader S&P/ASX 200 index saw a slight increase.

Sales Growth: Despite a pro forma total sales growth of 0.5% during fiscal 2025, Myer indicated that challenging macroeconomic conditions and subdued consumer demand impacted performance, although sales momentum improved by 3.1% in the first seven weeks of fiscal 2026.

Operational Challenges: Myer anticipates ongoing pressures from operational and technological issues at its national distribution center in Victoria, which are expected to affect financial performance in the first half of 2026.