September 13, 2017 / 11:42 PM / 3 months ago

Australia's Myer Holdings says annual net profit dips 1.9 pct

Sept 14 (Reuters) - Australia’s biggest department store operator Myer Holdings Ltd said on Thursday underlying annual net profit fell 1.9 percent as intense competition and soft retail spending took a toll.

Underlying net profit was A$67.9 million ($54.20 million) for the year to July 26, down from A$69.3 million the previous year, Myer said in a statement.

The result was at the lower end of the company’s earlier guidance of A$66 million to A$70 million.

Sales fell 2.67 percent for the year. ($1 = 1.2528 Australian dollars) (Reporting by Hanna Paul in Bengaluru; Editing by Byron Kaye and Stephen Coates)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below