There is not a lot of fight left in the department store’s board of directors,and billionaire Solomon Lew knows it. The decision about who runs the company is his for the taking.
It’s a weakness for retail billionaire Solly Lew,one which he identified in himself:the desire always for one more deal.
The stalwart retailer’s plan to give birth to a litter of retail companies displays a whole new level of boldness.
The local sharemarket closed flat on Tuesday as Myer revealed its sales growth has practically ground to a halt,and consumer confidence data showed sentiment continued to worsen.
Myer’s largest shareholder,Solomon Lew,is now the company’s kingmaker. And in this case,(John) King replacer.
Australia’s biggest department store Myer says its sales growth has almost ground to a halt over the past six months as consumers feel the cost-of-living crunch.
Living costs are making trading conditions tough,but the boss of DJs hopes the consumer outlook will lighten.
Australia’s biggest horse race may have found itself without a fashion sponsor,but trackside style could be the ultimate winner.
The head of Australia’s largest department store will sign out in the second half of 2024 and return to the US after leading the retailer to its strongest profit a decade.
In 1983,Myer selling Chadstone shopping centre was like a dowager aunt selling her favourite jewel. Like a jewel,Chadstone was a property acquired during the boom and disposed of when times got tough.
Consumers are spending up on cosmetics and skincare - but competition for their dollars is fierce.