Myer Holdings Ltd has reported preliminary unaudited sales growth for the second half of the 2025 financial year to date, supported by strength in its loyalty program and online sales. Myer’s department store business recorded a 1.9% increase in total sales to A$837.2 million, while comparable sales rose 1.5%. Online sales grew 9% and now account for 21.4% of total sales.
The performance of the recently acquired Apparel Brands portfolio was more subdued, with total sales declining 3.9% to A$211.2 million and comparable sales down 3.7%. Online sales for this segment also dipped 3.5%.
Myer noted that the broader retail environment remains challenging amid cost-of-living pressures and heightened promotional activity. While FY25 is described as a “year of transition,” Myer is progressing with its growth strategy, including interim solutions for distribution issues and leadership team enhancements.
Myer department stores
Total sales for Myer department stores reached A$837.2 million, representing a 1.9% year-on-year increase. Comparable sales rose 1.5%, underpinned by strong consumer engagement with the MYER one loyalty program, which now includes a record 4.6 million active members and a 79% tag rate. Online channels saw a 9% rise in sales, comprising over one-fifth of total revenue. This growth was achieved despite volatile consumer behaviour leading up to the May federal election and a shift in spending preferences influenced by economic uncertainty.
Apparel Brands
Apparel Brands—comprising Just Jeans, Jay Jays, Jacquie E, Portmans and Dotti—reported total sales of A$211.2 million, down 3.9% compared to the prior period. Comparable sales fell 3.7%, and online sales contracted by 3.5%, representing 16.8% of segment sales. The integration of these brands, acquired on 26 January 2025, into the Myer Group is ongoing. Restructuring efforts for sass & bide, Marcs, and David Lawrence are currently underway as part of broader consolidation efforts.
Operational pressures and strategic response
Myer noted multiple headwinds affecting profitability, including inflation-driven increases in store wages and occupancy costs, as well as adverse foreign exchange impacts. Additional pressure came from a sales mix shift toward concession sales, which typically yield lower margins, and operational disruptions at the new National Distribution Centre (NDC) in Ravenhall.
Automation and integration issues at the NDC, flagged during 1H25 results, continue to hinder full operational efficiency. Myer has since developed a dual-pronged interim response ahead of peak trading: it has engaged Toll Group to handle up to 40% of online volumes and improved NDC’s fulfilment output to 10–15%, thereby easing pressure on store-based logistics.
Strategic repositioning
Executive Chair Olivia Wirth affirmed the Group’s commitment to transformation, describing FY25 as “a year of transition.” Myer is actively bolstering its leadership capabilities and embedding Apparel Brands within the Group’s broader omni-channel retail strategy. Recent initiatives include the refinancing of debt, operational restructuring, and efforts to stabilise supply chain logistics.
Wirth said, “We remain focused on resetting the business and implementing our strategic growth plan… We are embedding Apparel Brands into the Myer Group, strengthening our balance sheet… and have implemented an interim solution for the next peak trading period.”
Investor Strategy Day
Myer will present further detail on its growth ambitions during its upcoming Investor Strategy Day on May 28, 2025. The event will be webcast, with registration available via the company’s website.