Myer's sales have not shown signs of life since 2009, with earnings for the department store giant to record their fourth consecutive fall

Myer's sales have not shown signs of life since 2009, with earnings for the department store giant to record their fourth consecutive fall. Analysts remain sceptical on the outlok for Myer, with Citi analyst Craig Woolford saying the quality of yesterday's result ''was low'' and worrying that the performance showed Myer's challenge in reigniting sales growth to offset natural cost pressures. Although the half-year profit was above market consensus of $74 million to $77 million, investors were disappointed by the drop in gross profit margin and a cut in the interim dividend from $.10 cents to $.09. And the shares could come under further pressure into next week with analysts expected to downgrade profit forecasts on the back of Myer's flattening profit margin trajectory. Read more: (VIEW LINK)


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