Aussie retail giant Myer records $276 million loss amid ‘challenging’ economic conditions
Australian retailer Myer reported a $276 million loss for the last financial year, citing a volatile economic environment and weak consumer sentiment. The company noted that rising costs of living and global instability have significantly impacted discretionary spending.
Why it matters
The performance of major retailers like Myer serves as a key indicator of the health of the Australian consumer economy.
Business Finance Aussie retail giant records $276 million loss, second-largest in company’s history Patrick Brischetto September 23, 2026 - 1.04am
shares Share article Retail giant Myer has blamed a “volatile and significantly more challenging” economic environment as it recorded its second-largest loss in its history.
The retailer’s latest financial results, released on Wednesday, show the Myer Group posted a $276 million loss in the last financial year.
Myer recorded the second biggest loss in its history, and the difficult economic climate could remain for some time. iStock
The only time the company recorded a larger loss was in 2018, when it recorded a $486 million deficit.
While its total sales rose by 0.7 per cent to $4.1 billion, its underlying post profit was $42.5 million, which was about three per cent lower than last year.
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