Former Woolworths bosses and Endeavour’s largest shareholders are at odds with the company about the direction of its business.
The retail behemoth survived COVID-19 and bounced back to profit. As senior executives prepare to leave,the 123-year-old retailer faces its next challenge.
The department store owner saw its profit jump 23 per cent in financial year 2023,but things are getting harder in the cost-of-living crunch.
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.