To be pinged for making sexual jokes about a person who is in a powerful position over the company’s regulatory fortunes,that’s just next level.
It is probably no accident that news about McInnes joining billionaire Brett Blundy’s retail empire coincided with a 3.5 per cent fall in Myer’s share price where his former boss,Solomon Lew,is a key shareholder.
This year’s Black Friday deals were some of the best that Australia’s ever seen. But it’s uncertain if retailers can offer the same next year,as discounts eat into margins.
Premier Investments’ chairman Solomon Lew called for federal assistance for consumers,as he notched record sales during Black Friday and lifted earnings expectations.
Now that Solomon Lew has started exercising power within Myer,shareholders will be expecting him to make a difference.
While Premier Investments’ profits held up better than most discretionary retailers,not even his well-oiled business can escape the economic backdrop.
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.
No topic was off the table at Arnold Bloch Leibler’s 70th celebrations,from PwC to pocket money,as expensive drinks and stories flowed freely.
The stalwart retailer’s plan to give birth to a litter of retail companies displays a whole new level of boldness.
Solomon Lew’s Premier Investments,owner of some of Australia’s most-well known retail brands,has announced the surprise exit of its CEO while confirming it is contemplating a demerger.