Reuters logo
Australia's Myer says tough conditions to continue
November 24, 2017 / 1:05 AM / 21 days ago

Australia's Myer says tough conditions to continue

Nov 24 (Reuters) - Australia’s biggest department store chain, Myer Holdings Ltd, said on Friday challenging conditions would continue into the second quarter, as it prepared for a crucial vote on the shape of its new board at its annual general meeting.

Chairman Paul McClintock asked shareholders to respect the outcome of the vote, held amid a revolt from major shareholder Solomon Lew.

The billionaire investor has demanded a greater say on the board of the 117-year-old retailer since it posted its worst profit as a listed company in September. (Reporting by Shashwat Pradhan and Aditya Soni in Bengaluru; Editing by Stephen Coates)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below