Leaked figures suggest Myer sales collapse
The AFR reported that leaked figures reveal that Myer's sales continue to sink. Apparently, group's figures for the first quarter of FY19 show sales are down 5.5% year-on-year, and down 8.9% against the same period in 2017. Online sales are up 41% on the same period two years ago but down 5.2% versus last year. FLASH UPDATE: ASX site shows that at 10:30 Myer shares have been placed in trading hold, until 20th November / or Myer's announcement. At the end of the day Myer updated the market, commenting that the leaked figures were incomplete and that the sales were actually 4.8% down and online sales were 3.6% up on the previous year. Still not a pretty picture.