Myer Holdings Ltd (STU:30M)

Half Year 2025 Myer Holdings Ltd Earnings Call Transcript

Mar 18, 2025 / 10:30 PM GMT

Release Date Price: €0.438 (+0.46%)

Transcript

Key Points

Positve

Myer Holdings Ltd (ASX:MYR) reported a 0.8% increase in comparable sales and a 4.8% rise in online sales, which now represent 22.3% of total sales.
The company completed a strategic review and developed a comprehensive growth strategy, including the successful completion of the apparel brands transaction.
Customer satisfaction levels improved by 100 basis points, and the Myer One loyalty program saw a 290 basis point increase in tag rate, with 453,000 new members joining.
Operational discipline led to a 12.9% reduction in shrinkage, and the company reopened its refurbished Werribee store.
Myer Holdings Ltd (ASX:MYR) arranged a debt refinancing expected to deliver significant savings, with $3 million realized in the second half and $11 million annually thereafter.

Negative

Total sales were flat, reflecting challenging trading conditions, and EBIT was down 14.3% due to issues at the new national distribution center (NDC).
The NDC challenges resulted in a $12 million adverse impact on EBIT, with stock trapped and online fulfillment disrupted during peak trading periods.
Net profit after tax declined by 18.5% to $42 million, impacted by the NDC issues and higher costs of doing business.
The apparel categories, particularly women's and children's wear, were challenged due to stock availability issues.
The trading environment remains volatile, with mixed consumer sentiment and challenging conditions expected to persist, particularly in the apparel category.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

MYR.AX - Myer Holdings Ltd
Half Year 2025 Myer Holdings Ltd Earnings Call
Mar 18, 2025 / 10:30PM GMT

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Presentation
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Unidentified_1 [1]
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Thank you for standing by. Good morning and welcome to the analyst and investor call for Myer's 2025 half year results with Myer's executive chair, Olivia Wirth and Chief Transformation Officer Andrew Taylor, who are joined by Group Chief Financial Officer Cathy Carabbasis. All participants are in a listen-only mode. There'll be a presentation followed by a question and answer session for analysts and investors.

If you would like to ask a question, you'll need to press the star key followed by the number one on your telephone keypad.

I would now like to hand the call over to Olivia.

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Unidentified_2 [2]
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