Myer

Solomon Lew has struck a blow against Myer by securing a first strike against the department store chain's executive remuneration.

Premier Investments is acting on threats to oust the board of Myer with a request for the department store chain's shareholder register in a first step towards holding a vote to install new directors.

Solomon Lew is calling on fellow Myer shareholders to "save the company" with a board spill after shares in the troubled retailer plummeted to a fresh all-time low on the back of its latest profit warning.

Myer chief executive Richard Umbers has been forced to resign, but the board is sticking with his turnaround strategy.

A number of local mining companies have moved up the stock market rankings, with contractor Ausdrill included in the S&P ASX 200 index, while South32 has been admitted into the top 20 as part of the market’s quarterly rebalance.

Analysis: The franchising model could become the latest victim of the pressure being heaped on the retail sector.

Myer's executive chairman has issued a damning indictment of the department store chain's performance under ex-chief executive Richard Umbers after it slumped to a $476.2 million first-half loss.

Most of the 63 Myer stores around Australia are likely to be at break-even and the veteran retailer must shrink to survive, a new analyst's report says.

Department store sales helped retail spending rebound sharply in February, but economists aren't getting carried away by the surprisingly strong result.

From small operator to market leader, local business Kingman Visual’s signage portfolio includes high-profile work at Perth Airport and Optus Stadium.

Myer has warned unseasonably warmer weather could dent its fourth-quarter profit after third-quarter sales dipped 2.7 per cent to $635.3 million.

Shares in department store Myer have fallen to a two-month low after the embattled retailer reported a full-year net loss of $486 million.

Myer chief executive John King has increased his stake in the beleaguered retailer, purchasing 100,000 shares a day after it posted a full-year net loss of $486 million.

The war of words between Myer and Solomon Lew has escalated after the troubled retailer's shares went into freefall following its forced admission of another drop in sales. 

The embattled Myer board has made a fresh pitch to shareholders ahead of a likely explosive annual general meeting on Friday, declaring the completion of its refinancing was a vote of confidence.

Myer shares are soaring after the department store chain cut its debt by a third and posted a $38.4 million first-half profit.

OPINION: Damaging supermarket prices wars and more online shoppers have turned the screws on a besieged retail property sector.

ANALYSIS: A recent rise in share prices for listed retailers reflects some positive signs across the economy.

Myer shares have climbed nearly 12 per cent on a better-than-expected full-year profit, but the department store chain's sales are still falling.

What Christmas gave to Australian retailers, the bushfires are taking away, but there could be worse to come for shopkeepers and shopping centre owners when the latest international trends wash up here.

Department store giant Myer has reported a 37 per cent drop in first half profit, weighed down by restructuring costs, redundancies and the exit of Apple products and Country Road Group brands.

Businesses and non profits suffering big falls in turnover will receive subsidies of up to $1,500 per worker per fortnight under the federal government's new Jobkeeper program, with up to 6 million people to be supported.

Retail turnover surged by a monthly record of 8.2 per cent in March as consumers rushed to stockpile groceries and office supplies ahead of COVID-19 lockdowns.

Myer says it will reopen all of its stores, with Perth City due to reopen next Wednesday, in line with most other stores around the country, while its Karrinyup store is set to reopen next weekend once a refurbishment project is complete.

Retailer Colette by Colette Hayman will keep only a third of its Australian and New Zealand stores open after securing a new owner.

Myer has reported a full-year loss of $172.4 million after sales fell more than 15 per cent from temporary store closures due to the coronavirus pandemic.

Myer chair Garry Hounsell has left the company after criticism from shareholders including retail kingpin Solomon Lew.

Retailer Myer has posted a massive lift in interim profit after a surge in online sales, yet investors were unimpressed and sent shares plunging on the ASX.

Retail magnate Solomon Lew has called for the board of the troubled Myer chain to resign after his company increased its ownership.

Premier Investments' attempts to take control of Myer are not in shareholders' best interests unless they receive a premium.

Retail giant Myer has returned to full-year profit and the turnaround may ease pressure on its embattled board members.

Rewards programs like Flybuys, Everyday Rewards and MYER One are becoming essential to Australian businesses for customer insights and engagement.

Myer has proposed to merge with Premier Investments, which operates apparel brands including Just Jeans, Jay Jays and Portmans.

Shares in department store Myer were sold off early on Monday morning, following a production update to the market.