Stock of the day: Myer

(AI video summary)

This video was created on 24 March 2026 for IG audiences by ausbiz.

ASX code: MYR

Myer posts stronger first‑half sales 

Myer reported a strong first half (H1), with sales up more than 24% after a record Black Friday period. Sales in the first seven weeks of the second half (H2) rose 1.7%. Management said brand integration is improving efficiency, though recent sales have softened. Just Jeans is outperforming. Myer kept its cost of doing business at about 29% of total sales and declared a 1.5 cent interim dividend.

Market reaction stays muted

Despite better results, Myer’s share price did not follow the broader rise in the ASX 200, highlighting investor caution. Although operations have improved, the market remains unsure that momentum can hold in a weaker macro environment. Longer‑term investors continue to favour companies with clearer growth prospects and stronger competitive positions.

Investment outlook

Myer’s long‑term performance remains a concern. Sales peaked in the mid‑1990s and have struggled since. The department store model continues to face pressure from ecommerce growth and shifting consumer behaviour, limiting earnings potential despite periodic improvements.