In a preliminary trading update for the year to July 31, 2021, Myer Holdings Limited said that the company expects to return to second half profitability for the first time since 2H FY17, despite significant Covid-19 impacts. The second half’s total sales increased 38.3%.
Group online sales increased 27.7 percent to 539.5 million Australian dollars representing 20.3 percent of total sales. Myer also reached an agreement with its financiers to extend its syndicated financing facility until November 2022 in order to facilitate a more efficient and longer-term refinancing.
