** Shares of department store Myer Holdings MYR.AX fall 3.3% to A$0.735, their lowest level since June 24, 2024
** Co reports lower interim earnings, with sales for the first five weeks of H2 already down by 2.6%
** Posts H1 net profit after tax of A$42.4 mln ($26.97 mln) for the 26 weeks ended January 25, an 18.5% decrease from the previous year
** The negative trend aligns with MYR's previous warnings of sluggish sales and earnings during major festive periods such as Black Friday, Christmas, and Boxing Day
** Stock fell as much as 10.5% earlier in the day, marking its worst intraday drop since January 13
** Stock down 38.3% YTD, including the current session's moves
($1 = 1.5723 Australian dollars)
(Reporting by Kumar Tanishk in Bengaluru)
((Tanishk.Kumar@thomsonreuters.com; X: @thatstanishk;))
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