The department store operator’s board has pushed major shareholder Solomon Lew to put up or shut up on taking over the reins at the retailer.
Reports of the death of department stores have been premature,says Myer CEO John King,who expects the company’s physical stores will give it an edge over digital-only businesses in the wake of the pandemic.
The partnership will allow Virgin’s 10.9 million Velocity members to use their frequent flyer points to shop at the department store.
Following reports David Jones could be up for sale,what’s the future of fashion at our department stores?
Speculation about a sale of David Jones has reignited talk of market consolidation,with Myer and David Jones living under the same roof.
As the Premier Investments boss once again ups his stake in the company,can his influence change the retailer?
The retail billionaire continued to build his stake in the department store he has pursued since 2017,just weeks after Myer flagged a profit turnaround.
Australians have endured two years in which retail therapy was a rare bright spot. Now there’s a chorus saying it must stop eventually.
The department store has revealed it will hit close to $3 billion in sales this year and post higher profits,as consumers amp up spending in store and online.
In a significant departure from major employer lobbies,the industry body representing Coles and Woolworths is calling for wages to be increased in line with inflation.
Myer’s payout was a tiny morsel,but it sends a powerful message:The department store has made decent headway in improving sales and earnings. It leaves board nemesis Solly Lew in a bit of a pickle.