The Myer Holdings Ltd (ASX: MYR) share price has jumped higher again at ASX open this morning.
The share price is now trading at $0.735, up 2.08% from yesterday, and up 4.25% over the past month. Over the year, Myer's share price is 3.73% higher.
For context, the All Ordinaries Index (ASX: XAO) opened 0.29% higher on Thursday.
Here's why Myer's share price is outperforming.
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Myer's share price leaps following its investor day
Myer held a strategy day on May 28, where the retail giant updated investors about upcoming changes to the business and its strategy to drive more growth.
The strategy appears to have impressed investors.
Myer's chief executive, Olivia Wirth, told attendees at the event that Myer plans to turn around its reputation for being a decaying department store that only caters to older shoppers.
The business will focus on younger shoppers, offering age-appropriate 'trendy' brands, more beauty services, and better-organised floor plans.
"It is no exaggeration to suggest Myer's future would be at risk over the long term if we had continued on the path we were on," Wirth said.
"By knowing our customer we are better placed to meet their needs, and I know that sounds obvious, but it's not something we have been doing."
Myer shares jump on sales growth
Another driver of Myer's share price growth is its trading update, which was announced on Friday last week.
In its H2 2025 results, the department store posted a 1.9% year-on-year increase in sales to $837 million. Comparable sales were up 1.5%.
Myer revealed that its online sales levels surged 9% year-on-year. They now account for 21.4% of the store's total sales volume.
Much of the growth was driven by the MYER one loyalty program.
But, the report also shows owned brand sales – the company's Apparel Brands business – were down 3.9% in the first 16 weeks of the second half of FY 2025, to $211 million. Comparable sales fell just 3.7%, and online sales fell 3.5%. The two figures represent a 16.8% decline in the owned brand sales volume.
Myer's owned brands include Sass & Bide, Marcs, David Lawrence, and the five Apparel Brands, Just Jeans, Jacqui E, Jay Jays, Dotti, and Portmans.
Myer Group executive chair Olivia Wirth said "volatile trading conditions" are impacting sales across the department store and Apparel Brands.
"Consumers remain cautious and focused on value in response to cost-of-living pressures and the current macroeconomic headwinds and uncertainty. This has resulted in volatile trading conditions with widespread promotional activity across the retail sector," she said in the report.
"We remain focused on resetting the business and implementing our strategic growth plan to position Myer Group as an omni-channel retail platform capable of delivering growth during all phases of the economic cycle."
Myer also reported margin pressure from increased costs of doing business, including wages and other outgoing costs affected by inflation. Shifts in foreign exchange rates have also acted as a headwind against the business.
