Sept 5 (Reuters) - Australian department store operator Myer Holdings MYR.AX swung back to an annual profit on Thursday supported by its turnaround strategy that has seen costs cut and low-margin brands let go.
Profit for the 119-year-old firm was A$24.5 million ($16.55 million) for the year ended July 27, compared with a loss of A$486 million a year earlier. The result was below a forecast of A$31.8 million profit, according to Refinitiv data. ($1 = 1.4806 Australian dollars)