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March 4 (Reuters) - Australia s Myer Holdings Ltd
said on Thursday store closures due to the COVID-19 pandemic led
to a 13% drop in first-half sales, sending shares of the
department store operator to a near two-month low.
The 120-year old retailer, an icon of the country s high
street, said sales fell to A$1.40 billion ($1.09 billion) for
the six months ended Jan. 25, from A$1.61 billion a year ago, as
restrictions on movement particularly hit sales in metro cities
such as Melbourne, Sydney and Brisbane.
Myer and other brick-and-mortar retailers have been among
the hardest hit by the pandemic, and have had to depend on