Myer chairman has Garry Hounsell has vowed to emphasise full-price sales as part of a strategy to reinvigorate the department store.
In an address to shareholders last week, Hounsell said freshly appointed CEO John King has already commenced a revival of its fortunes.
"You can visibly see the changes John and the team are making - better service, new and exclusive brands at a great price, in a well presented store."
However, while the ailing department store aims to reverse its fortunes, the numbers are still behind for FY19.
"Total sales were down 3.5% to $2.99 billion and comparable store sales were down 2.9%, in part reflecting our focus on profitable sales," Hounsell admitted.
Digital sales continued to grow with a 22% surge to $292 million for the year.
This includes Marcs and David Lawrence and sass & bide online sales, Myer Market, and $29.8 million via in - store iPads.
" Digital now represents our largest store and 9.8% of total sales," Hounsell said.
Operating gross profit declined by 1.9% to $1.16 billion.
OGP margin increased by 65 basis points to 38.9%, driven by an improved Myer Exclusive Brands mix as well as lower promotional markdowns and shrinkage.