It hasn’t been an easy ride for ASX retailers since their winning performance during last year’s earnings season.
Resurgent inflation, three rate hikes and tumbling house prices have taken an inevitable toll on consumer spending.
Department store Myer has been in constant retreat, with its share price falling more than 60% over the past 12 months.
Investors received another blow on Monday after the Solomon Lew-controlled group flagged an expected decline in operating gross profit for fiscal 2026, sending its shares down 12%. The question is whether this reflects a bleak economic outlook or a company in a terminal tailspin.
