Myer

Myer boss John King will retire in the second half of 2024 and return to the US after more than doubling the department store chain’s profit in the five years he has helmed the business.King’s decision to move on was based on his wish to be…

Myer at Chadstone Shopping Centre, 1979.Credit:The Age ArchivesBut all this could not have been foreseen back in the good old days of the 1960s when everyone had a job and spending money was plentiful.When the centre opened, on 4 October…

Department store Myer is upbeat about the trading environment after posting a 101.4 per cent jump in net profit for the first half, its strongest result since 2014.Chief executive John King said on Thursday morning that while the company is…

He said as consumer confidence falls and spending slows, speciality retailers such as The Reject Shop and discount department stores such as Kmart tend to benefit, while mid-market operators find it tough to maintain…

Even if Lew hasn’t the appetite for a Myer takeover, his stake has given him gatekeeper status if anyone else wants to have a try.It is more likely that Lew will use the window that the Corporations Act allows for shareholders with more…

Department store Myer says it expects to report a profit jump for the first half of 2023 as trading from its post-Christmas stocktake period continues to outperform last year.Chief executive John King said the company has recorded the best…

Luxury fashion label The Daily Edited has been rescued by the owner of accessories chain Colette by Colette Hayman, keeping 35 employees in jobs over Christmas.The Daily Edited, which started as an online retailer specialising in…

Retail billionaire Solomon Lew has scored a victory in his pursuit of a seat at Myer’s board after his nominee Terry McCartney secured the support of shareholders to become a director of the department store.Myer’s annual general meeting on…

Myer investor and former founder of Swisse Vitamins Michael Saba says he’ll vote against adding Solomon Lew-backed candidate Terrence McCartney to Myer’s board because the move is not in the interests of shareholders.Billionaire retail…

Solomon Lew’s Premier Investments has hit out against proxy advisor ISS’ opposition to appointing former Myer Grace Bros boss Terrence McCartney to Myer’s board, labelling its decision “bizarre”.With the billionaire rag trader and Myer’s…