Myer cuts profit forecast after Topshop disaster

By Melissa Singer
Updated July 21 2017 - 5:53pm, first published 5:48pm
Poor conditions in June now means that Myer now expects profit to come in under $70 million. Photo: Jessica Shapiro
Poor conditions in June now means that Myer now expects profit to come in under $70 million. Photo: Jessica Shapiro

Myer chief executive Richard Umbers is vowing he will stick with the department store's five-year transformation strategy despite a massive writedown of key assets and wipe out of its expected full-year profits.

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