Myer strong, but heat is on

Myer is the latest retailer to feel the heat from an unseasonably warm autumn.

While weather conditions have softened apparel sales in recent weeks, the department store still reported a 2.1% increase in third quarter sales.

Myer sales for the period hit $675.5 million, with full-year net profit guidance remaining at between $66 million and $72 million.

Comparable store sales were up 3.4% in the 13 weeks to April 23.

Total sales grew 1.9% to $2.47 billion - 3.3% on a like-for-like basis.

Myer CEO Richard Umbers said the results are a strong indication its turnaround strategy is working.

“The entire Myer team remains strongly focused on delivering our strategic priorities.

The momentum in the execution of New Myer is continuing with the rollout of a significant number of new and expanded wanted brands and refurbished brand destinations as well as further improvements to customer service."

Umbers has appointed new executives to build on the strategy moving forward.

Daniel Bracken has been made chief merchandise and customer officer as well as deputy chief executive.

Michael Scott has been appointed to the newly created role of executive general manager brand and marketing.