Retailer Myer has posted a massive lift in interim profit after a surge in online sales, yet investors were unimpressed and sent shares plunging on the ASX. Net profit for the first half of 2020/21 was $43 million, up 76.3 per cent, compared to the previous corresponding period. While online sales rose 71 per cent to $287 million, they could not prevent total group sales falling 13.1 per cent to $1.4 billion. Investors sent shares down 13.64 per cent to 28 cents at 1510 AEDT. Bell Direct market analyst Jessica Amir said investors would have noticed earnings were down 1.7 per cent. Myer closed some stores during the six months, but their running costs continue to weigh on earnings. "Although this company is making a profit, they still have quite high costs," Ms Amir said. "Their CBD stores across Australia are a large cost to business." Those CBD stores have been the hardest hit by the coronavirus pandemic. People working from home rather than at city offices have not made as many visits to town centre stores.