Australia's Myer flags sharp slowdown in consumer spending, shares slide 12%
27/07/2026 01:51
Australia's Myer flags sharp slowdown in consumer spending, shares slide 12% July 27 (Reuters) - Australia's Myer MYR.AX said on Monday consumer spending weakened sharply in June and July as a volatile economic backdrop and deteriorating sentiment weighed on non-essential purchases, sending its shares down more than 10%.
Shares of the department store business owner fell as much as 12%, marking their lowest since late October 2020.
(Reporting by Jasmeen Ara Shaikh in Bengaluru; Editing by Mrigank Dhaniwala)
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