UPDATE 1pm: Myer expects earnings to grow by as much as 10 per cent this year as sales are boosted by new and refurbished stores, including its flagship outlet in Melbourne, and less discounting. That helped Myer shares reach a post-float high in intraday trade, on a day the broader market fell. Myer chief executive Bernie Brookes said net profit for the current fiscal year was expected to grow by between five and 10 per cent. That would take net profit to as much as $73.9 million, from the $67.18 million reported for the 53 weeks to July 31, 2010, a decline of 38 per cent from the previous year. "Our performance will benefit from a significant uplift in sales at Myer Melbourne, as well as a full year of sales from our new store at Top Ryde (in Sydney) and nine months sales contribution from our new store at Robina (on the Gold Coast)," he said. He said that refurbished stores in Canberra, Charlestown in Newcastle and Garden City in Perth were due to relaunch before Christmas.