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Australia's Myer posts fall in Q3 sales
May 1, 2014 / 11:32 PM / 3 years ago

Australia's Myer posts fall in Q3 sales

SYDNEY, May 2 (Reuters) - Australian department store Myer Holdings Ltd reported a 0.9 percent fall in third-quarter total sales to A$646.5 million ($599.5 million), as the impact of store refurbishments outweighed “strong sales growth” during its mid-season sale.

The mid-to-up-market retailer said comparable store sales rose 0.2 percent, but did not provide a dollar figure.

Myer walked away from its proposal to take over rival David Jones Ltd on April 9, after the upmarket department store agreed to accept a $2 billion offer from South African retailer Woolworths Holdings Ltd.

$1 = 1.0785 Australian Dollars Reporting by Maggie Lu Yueyang; Editing by Richard Pullin

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