Myer saw full-year net income fall as the Australian department store operator admitted that the outlook remains "uncertain" due to a continued tough retail environment and falling consumer confidence.

Annual earnings fell 14.3% to A$139.3m as sales declined 1.3% to $3.1bn, down 2% on a comparable basis.

However, there was a glimmer of improvement, with the company booking a 0.3% increase in fourth quarter comparable sales. On a consolidated basis, fourth-quarter sales declined 0.3% to $766m.

Over the year, CEO Bernie Brookes said that increasing its Myer Exclusive Brands to 19% of sales helped to increase its gross profit performance. Sales in the division increased 5.5% to $586m over the year.

"With the support of our Asian sourcing offices, we have continued to develop our stable of 57 Myer Exclusive Brands with our established team of designers, product developers and planners. This represents a key strategic advantage," said Brookes.

The company's women's wear, Miss Shop, men's wear and cosmetics departments grew sales and gross profits over the year.