Myer and Solomon Lew's brands struggle with sales drops, hinting at wider retail woes amid economic pressures.

Australian department store Myer and Solomon Lew's apparel brands are experiencing sales struggles, potentially indicating broader retail issues due to cautious consumer spending. Despite a 2.8% increase in online sales, Myer's overall sales dropped by 0.8% for the first half of FY25, with total sales at $1.59 billion. The company faced challenges including a store closure and ongoing cost-of-living pressures, though their independent directors still support a merger proposal.

2 months ago
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