Myer Holdings Limited · ASX:MYR
Myer — FY2026 Earnings Presentation
26 slides from Myer's earnings presentation, Sep 23, 2026
Slide 1: FY26 Results and Myer Group Growth Strategy Progressed
23 September 2026 FY26 Results and Myer Group Growth Strategy Progressed Myer Holdings Limited (ASX:MYR; Myer Group) today reported financial results for the 52 weeks ended 25 July 2026 (FY26). FY26 Update • Comparable sales growth of 0.7% despite challenging macroeconomic conditions and volatile tr
Slide 2: 2H26 performance impacted by challenging macroeconomic conditions and trading volatility
2H26 performance impacted by challenging macroeconomic conditions and trading volatility As announced in July 2026, Myer Group experienced volatile trading on a month-to-month basis throughout 2H26, with ongoing cost-of-living pressures weighing heavily on consumer sentiment. These pressures include
Slide 3: Myer Group Executive Chair Olivia Wirth said
Myer Group Executive Chair Olivia Wirth said: “The second half of FY26 was characterised by a volatile and significantly more challenging macroeconomic and retail environment than 1H26 or FY25. “While our performance in the first four months of 2H26 was mixed, including a stronger May, we observed a
Slide 4: Myer Holdings Ltd FY26 Results
Myer Holdings Ltd FY26 Results 23 September 2026
Slide 5: FY26 Financial Performance
Myer Group | FY26 Overview FY26 Financial Performance Total Sales1 Operating Gross Profit4 Cost of Doing Business3,4 $4,088.8m $1,603.2m In line with FY26 11.3% 14.0% target of 29% Comparable sales 0.7% Pro Forma2 up 0.3% Pro Forma2 1.6% lower Underlying EBITDA3,4 Underlying EBIT3,4 Underlying NPAT3
Slide 6: FY26 Execution Achievements
Myer Group Growth Strategy FY26 Execution Achievements Strategic Priorities Value Creation Integration Customer & Products & Omni-channel Sourcing & Supply Manage CODB Specialty Retail Loyalty Brands Network Chain and Efficiencies Integration ✓ Relaunched revamped ✓ Relaunched Myer ✓ Closed 38 and o
Slide 7: Group Financial Performance
Group Financial Performance 4
Slide 8: Comparable sales growth of 0.7% despite challenging macroeconomic conditions and volatile trading in 2H26
Myer Group | Income Statement Comparable sales growth of 0.7% despite challenging macroeconomic conditions and volatile trading in 2H26 $ MILLIONS FY26 FY255 Change Change – Comparable sales growth of 0.7%. Total sales1 on an actual basis up 11.3%, (Actual) (Pro Forma)3 incorporating full 12-months
Slide 9: Comparable sales growth of 1.0% driven by growth in Women's Fashion, Home, Kids, Concessions
Myer Retail | Segment Result Comparable sales growth of 1.0% driven by growth in Women’s Fashion, Home, Kids, Concessions and Marketplace $ MILLIONS FY26 FY25 Change – Total sales1 growth of 0.7% driven by growth in Women’s Fashion Total sales1 3,328.8 3,306.0 0.7% (4.7%), Home (5.6%), Kids (4.6%),
Slide 10: Just Jeans performance up 6% offset by softness across other brands
Myer Apparel Brands | Segment Result Just Jeans performance up 6% offset by softness across other brands $ MILLIONS FY26 FY25 Change (Pro Forma)3 (Pro Forma)3 – Comparable sales 0.3% lower reflecting strong performance in Just Jeans 1 (up 6.0%), with a more stable performance for Dotti in 2H26. This
Slide 11: CODB in line with FY26 target of ~29% of total sales
Myer Group | Cost of Doing Business CODB in line with FY26 target of ~29% of total sales Underlying CODB1 increased broadly in line with inflation Strategic investments more than offset by Integration Synergies and Value Creation 2.7% +4.0% 12 28 9 28 25 14 1,204 1,158 1,190 1,162 % 28.4% 29.1% Tota
Slide 12: Cash flow driven by inclusion of Myer Apparel Brands in FY26
Myer Group | Operating Cash Flow Cash flow driven by inclusion of Myer Apparel Brands in FY26 Change $ MILLIONS FY26 FY25 ($M) Underlying EBITDA1 413.5 383.2 30.3 – Operating cash flow increase of $9.9m driven by an increase Add significant items (422.6) (257.2) (165.4) in EBITDA with the inclusion
Slide 13: Net cash position of $100 million
Myer Group | Balance Sheet Net cash position of $100 million Change $ MILLIONS FY26 FY25 ($M) Cash 100.1 167.2 (67.1) – Net cash position of $100.1 million (as at 25 July 2026). Debt 0.0 0.9 (0.9) Net cash 100.1 168.1 (68.0) – Inventory broadly in line with the prior year. Inventory 498.5 493.0 5.5
Slide 14: FY27 & Trading Update
r | FY27 & Trading Update MyerGroup
Slide 15: Growth targeted to come from new and more engaged customers, driven by MYER one
Myer Group Growth Strategy Growth targeted to come from new and more engaged customers, driven by MYER one, an enhanced product offering and stronger omni-channel capability …is driven by MYER one and M y e r G r o u p ’s r e t a i l e n g i n e … the connected customer 1• Our expanded loyalty progr
Slide 16: FY27 Strategic Priorities, Value Creation and Integration
Myer Group Growth Strategy FY27 Strategic Priorities, Value Creation and Integration Strategic Priorities Value Creation Integration Customer & Products & Omni-channel Sourcing & Supply Manage CODB Specialty Retail Loyalty Brands Network Chain and Efficiencies Integration • Expand loyalty • Addition
Slide 17: Comparable sales flat in first eight weeks of 1H27
1H27 Trading Update Comparable sales flat in first eight weeks of 1H27 TOTAL SALES1 ($ MILLIONS) 1H27 1H26 Change Myer Group 519.6 534.1 (2.7)% Sales Myer Retail 420.2 428.3 (1.9)% • Myer Group: comparable sales flat (+0.2%); actual Myer Apparel Brands 99.4 105.8 (6.0)% sales1 2.7% lower. • Myer Ret
Slide 18: Group
MyerGroup
Slide 19: Closing
Closing MyerGroup
Slide 20: Appendices
Appendices MyerGroup
Slide 21: NPAT reconciliation to Statutory Accounts
Appendix 1 NPAT reconciliation to Statutory Accounts $ MILLIONS EBIT INTEREST TAX NPAT Statutory reported result (283.2) (78.4) 85.1 (276.5) Add back: Significant Items 422.6 - (103.6) 319.0 Transaction costs 1.0 - - 1.0 Strategic review 1.6 - (0.1) 1.5 Transition and integration costs 21.9 - (6.6)
Slide 22: Segment Information
Appendix 2 Segment Information MYER MYER APPAREL CONSOLIDATED $ MILLIONS RETAIL BRANDS CORPORATE TOTAL 1 Total sales 3,328.8 760.0 - 4,088.8 Concession sales (908.1) - - (908.1) Sale of goods 2,420.7 760.0 - 3,180.7 Sales revenue deferred under customer loyalty program (53.1) (7.4) - (60.5) Revenue
Slide 23: Income Statement (versus FY25 Actual and FY25 Pro forma)
Appendix 3 Income Statement (versus FY25 Actual and FY25 Pro forma) FY26 FY25 Change FY25 Change $ MILLIONS Actual Actual3 Actual Pro forma3 Pro forma4 Total sales1 4,088.8 3,673.8 11.3% 4,076.2 0.3% Operating gross profit 1,603.2 1,406.5 14.0% 1,628.5 (1.6)% Operating gross profit % 39.2% 38.3% 92b
Slide 24: Income Statement – Myer Group Pro Forma Income Statement FY25
Appendix 4 Income Statement – Myer Group Pro Forma Income Statement FY25 $ MILLIONS FY25 1,2 FY25 Total sales 4,076.2 4075.8 Concession sales (839.1) (839.1) Sale of goods 3,237.1 3,236.7 Sales revenue deferred under customer loyalty program (45.9) (45.3) Revenue from sale of goods 3,191.2 3,191.4 O
Slide 25: Capex and opex
Appendix 5 Capex and opex FY26 FY25 NET CAPEX & OPEX FY26 FY25 FY26 FY25 Capex & Capex & $ MILLIONS Capex Capex Opex Opex Opex Opex Stores (redevelopments, brands & operations) 20 29 11 6 31 35 Online and systems 25 19 7 3 32 22 Other (including supply chain initiatives) 7 12 5 3 12 15 Landlord cont
Slide 26: Important Information
Important Information Investors and potential investors should make their own assessment and take independent professional advice in Subject to law, Myer assumes no obligation to update, review or revise any information contained in this relation to the information and any action taken on the docume