Business
Vita shares plunge as Telstra takes control of retail stores – The Australian Financial Review
Telstra’s decision to take back full control of its 337 retail stores threatens revenues at Vita Group and could increase competition for JB Hi-Fi.
Theres no doubt that we feel more comfortable as we move forward in a model where we have direct control and engagement with the front of house staff in all our stores, Mr Ackland said.
It wasnt the driver of the decision but its something that makes us more comfortable that something like that wouldnt occur again, he said.
On an investor call, Telstra declined to comment in detail on the financial impact of the move, indicating it would not renew licence agreements when they expired but there would…
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