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Australia's Myer says H1 2018 profit to drop

Published 14/12/2017, 09:41 am
Australia's Myer says H1 2018 profit to drop
MYR
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Dec 14 (Reuters) - Myer Holdings MYR.AX said on Thursday it expects its net profit after tax for the first half of fiscal 2018 to be substantially lower than the previous corresponding period.

The department store operator cited lower second-quarter sales as a reason for the drop, saying that reduced foot traffic has hurt its business.

The company said total sales to the end of November were down 2.3 percent.

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