Shoppers have been spending large at Myer, regardless of rising rates of interest squeezing family budgets, with the division retailer chain saying a big bounce in revenue.
The group, which retails manufacturers spanning trend, cosmetics, homewares and electricals, on Thursday introduced a doubling in web revenue to $65 million, fuelled by $1.9 billion in gross sales – a 24 per cent improve within the six months to January 28.
“We are very pleased with the strength and quality of our first half results, with a best-on-record first half sales performance, significantly improved profitability and a balance sheet that continues to provide a strong foundation for future growth,” chief government John King mentioned.
Shareholders will obtain a fully-franked dividend of 8 cents per share, up from 1.5 cents the earlier 12 months.
Every week earlier, Myer’s largest shareholder Solomon Lew’s Premier Investments consolidated its management of the corporate, elevating its stake from 22.87 per cent to 25.79 per cent.
In January, Myer introduced a 38 per cent bounce in gross sales for the 5 months to December 31 in comparison with the earlier corresponding interval.
At the time, it anticipated first half web revenue to be between $61m and $66m
Myer has made a shocking comeback on the ASX in latest months, reaching a six-year excessive in late January.
Its shares purchase 95.5c forward of Thursday’s market open.
Source: www.perthnow.com.au
