(Adds Austradia writedown, sass & bide impairment)
July 20 (Reuters) - Australia's Myer Holdings Ltd MYR.AX cut its net profit after tax forecast for fiscal 2017 on Thursday, citing ongoing weakness in retail trading conditions, and announced the resignation of its chief merchandise officer.
Myer, one of Australia's biggest department store operators by sales, cut the forecast, before implementation costs, to a range of A$66 million ($52.50 million) to A$70 million from an earlier guidance of more than A$69.3 million.
Myer said it had decided to write down the full carrying value of its 20 percent stake in Austradia Pty, the local franchisee of British fashion retailer Topshop.
Myer announced in May that Austradia had appointed voluntary administrators. Melbourne-based retailer added that it has been unable to secure a deal on "acceptable commercial terms" with Topshop's British parent, Arcadia Group, to allow for the continuation of Topshop/Topman concessions in Myer.
Myer also said it will take a A$38.8 million impairment charge on its struggling Australian fashion brand sass & bide.
The company did not cite a reason for the departure of deputy chief executive Daniel Bracken, who was also chief merchandise and customer officer, after two-and-a-half years in the job.
($1 = 1.2571 Australian dollars)