The company is still on the lookout for a new CEO, after a string of profit warnings which resulted in Richard Umbers being sacked on Valentine's Day. Sale Now On! It is the latest salvo fired in the ongoing agitation of the Myer board by Mr Lew. All trademarks are owned by their respective owners.OzBargain is an independent community website which has no association with nor endorsement by the respective trademark owners. Shop Online at Myer, Australia's largest department store. Myer are also closing Hornsby, Belconnen and Colanaddes in SA next year. This was after its market value fell to around $360 million, which is too low to be considered among Australia's top 200 public companies. Premier also continued its personal criticism of Mr Hounsell, slamming the decision to, "[pay] himself $1 million per annum to be executive chairman amid the carnage he and the board are creating for shareholders". Despite its share price lifting by 2.3 per cent at lunchtime, by the close, Myer shares had tumbled 3.5 per cent to 41.5 cents each. In a statement to the ASX, Myer's chairman Gary Hounsell acknowledged the result was "unsatisfactory" and "reflected a number of executions issues including, for example, the failure to respond appropriately to the heightened competitive environment prior to Christmas". Owner Kit Jones bids farewell to long term customer Sue Lyons as The Cafe at Myer will close by the end of the month, Friday, February 9, 2018. All times AEDT (GMT +11). The message ended on an ominous note: "Premier will have more to say in coming days.". 44-year-old mum Kylie Hilder is still playing State of Origin, because 'age is just a number', 'Showed no remorse': Man jailed for drugging and raping intellectually impaired teenage girl, Moselmane reinstated to Labor Party after AFP foreign influence investigation, Police union deletes tweet lauding officer involved in bloody colonial-era massacre. Copyright © 2006-2020 OzBargain ABN: 26 144 073 772, [QLD] 30% off Lowest Sale Price Storewide @ Myer, Loganholme, Christian Dior Dioraddict3 Sunglasses $255 (Was $510) Shipped @ Myer, Under Armour Down Hooded Jacket $80 (Was $249) @ BCF, MAXX 7 Pack Trunks (Sizes Small to XXL) - $15 (Was $25) @ Target, adidas NMD R1 Sneakers: Men's from $99, Womens from $98 Delivered @ Amazon AU, Upsize Cashback: 20% Footlocker, Hype, Surfstitch, CottonOn, 25% General Pants, Seed, 12% Bonds, 10% Uniqlo @ Cashrewards (Caps), Upto 77% Off:Twin Peaks/Array Long Sleeve Hoodie $29.95, Adidas Ultra Boost $89.95 (Size 8) @ Culture Kings/ Ebay Culture Kings, Nike Air Max 270 React SE - Men's and Women's at $115.99 + $9.95 Delivery @ Nike AU, 30% off Storewide @ Tommy Hilfiger (Free Shipping Min $100 Spend), Mens and Womens Coats - $94.05 (Were $499) - 60% off @ Oxfordshop. Myer and David Jones have been stuck in the headlights of huge structural changes in retail. Now they have to leave the country they call home, 'Difficult and hard news for Australians': PM warns of content in war crimes report, Telstra announces plans to split into three, fuelling speculation about move for NBN, China's not just quashing dissent in Hong Kong. RETAIL giant Myer could close seven stores to help reignite sales growth, analysts say. RETAIL giant Myer could close seven stores to help reignite sales growth, analysts say. He's put it to good use. The company will not pay its shareholders an interim dividend in light of the disappointing result and the "challenging retail trade environment". @solidussnake: They have been a clearance store for about a year with buggeer all stock, just random pink shirts and pants size 48. I think it's part of their new Myer restructure. How long will a hand recount Georgia take? Please shop online with free delivery on purchases over $49. Originally published as Myer may be planning to close stores Originally published asMyer may be planning to close stores. ANALYSTS believe Myer could afford to close seven stores as it fights to improve its flagging sales. Troubled department store Myer has posted a hefty first-half loss of more than $476 million, prompting a renewed attack on the company's board by major shareholder Solomon Lew. Shop With Afterpay* Free Shipping Over $49. The company noted that sales had improved in the seven weeks after January 27, when its first-half reporting period ended. Click for more information. Selected stores now open for click & collect only. Find out more about our policy and your choices, including how to opt-out. Premier questioned the impact of the write-down on Myer's debt covenants and the decision to halt dividend payments to shareholders. solidussnake on 11/12/2018 - 17:04 (307 clicks) Last edited 11/12/2018 - 17:07 by 1 other user Hey Guys Loganholme myer is shutting unsure of when it will end as its dependant of stock mainly clothes for Mens, Womens and kids left along with watches and … "Today's result provided further evidence, if any was needed, that the Myer Board should be removed and replaced as soon as possible if the company has any hope of surviving," Mr Lew's Premier Investments wrote in a response to the result. ongoing agitation of the Myer board by Mr Lew. Surprised to hear they're still trading to be honest. Earlier this month, Myer was booted out of the ASX 200 index. Myer's online sales surged by 49 per cent but the bigger picture is more bleak for investors, as its total sales fell 3.6 per cent during the six-month period. I recall last time I went to Myer is other places, from my understanding is that when sales occur that's when ppl actually go to Myer and DJ, otherwise their stuff is not cheap in comparison to others. Myer's announcement of a first-half loss was widely expected. Myer: 100 jobs to go with Brookside closure HIGH-END retailer Myer will leave the Loganholme Hyperdome in 2018.

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