{
  "id": 9285523,
  "title": "Myer FY26 slides: record sales top $4B, but profits slip on margins",
  "url": "https://urgent.news/2026/09/23/myer-fy26-slides-record-sales-top-4b-but-profits-slip-on-margins",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-09-23T06:04:11.000Z",
  "source": {
    "name": "Investing.com",
    "slug": "investing-com",
    "url": "https://www.investing.com/news/company-news/myer-fy26-slides-record-sales-top-4b-but-profits-slip-on-margins-93CH-4912105"
  },
  "original_language": "en",
  "account": "Myer Group (ASX:MYR) released its FY26 financial results on September 22, 2026, revealing record total sales of $4,088.8 million, marking a 11.3% increase year-over-year. However, profitability declined as the company faced challenging promotional environments and ongoing consumer headwinds. Comparable sales growth reached 0.7%, although this metric was impacted by the inclusion of full 12 months of Myer Apparel Brands in both FY25 and FY26 calculations.\n\nOperating gross profit grew 14.0% to $1,603.2 million on an actual basis, while falling 1.6% to $1,195.4 million on a pro forma basis, indicating margin compression. Underlying EBIT fell 7.0% to $139.4 million, with net profit after tax declining 2.9% to $42.5 million, and showing a significant loss of $276.5 million on a pro forma basis due to impairment charges.\n\nThe company declared a fully franked interim dividend of 1.5 cents per share but did not issue a final dividend, resulting in a payout ratio of 60% for the year. Management highlighted progress on strategic initiatives like the MYER one loyalty program, which reached 5.3 million active members. Overall, the results showed mixed performances across key metrics, with both positive growth in online and concession sales, as well as challenges in operating margins and profitability.",
  "summary": null,
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}