What: The Australian department store reported a 12.3% increase in sales during the five months to January 1, despite losing 27% of its brick-and-mortar trading days due to lockdowns.

Why it is important: Myer’s online trade rose 54.3% year-on-year in the five month period tracked and now accounts for 27.7% of overall sales, compared with 20.2% a year earlier.

Despite an improved gross profit, the company has been facing higher costs of doing business.

Myer records double-digit growth