By Jessica Yun

Copyright brisbanetimes

But only one of the five brands, Portmans, increased sales during the year (1.3 per cent). Trend-driven youth fashion brand Dotti performed particularly badly, with an unpopular winter range sending sales down 8.9 per cent.

Investors have signalled their displeasure with Myer’s performance by sending its share price tumbling 26 per cent lower to 47.5¢. The $818 million company did not declare a final dividend.

Myer’s homewares department has carried the business, increasing sales by 7.4 per cent in what Wirth told investors was the division’s best result since 2009. Beauty, another department earmarked for growth, ticked 0.8 per cent higher.

Myer will add 18 new clothing brands and 38 new beauty brands between now and Christmas. “That includes a number of K-beauty brands and also Gen Z skincare brands,” Wirth said.