Business
Solomon Lew turns the screws on Myer – Sydney Morning Herald
If Myer’s Christmas is a disappointment, an EGM is all but inevitable, and with it calls for a board spill and an overhaul of management.
For Myer this means a tight turnaround to get the stock unloaded, picked and onto the shelves in the lead up to Christmas. It will be an even tighter deadline to get merchandise ready for November’s Black Friday and Cyber Monday sale frenzies.
Fewer supplies and fewer items in stock will likely mean a hit to Myer’s sales over the critical trading period which will make it harder to service its $340 million in debt repayments, with $30 million due this financial year.
Some suppliers are so conc…
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