Business
The Reject Shop to renegotiate 60pc of leases – The Australian Financial Review
The discount retailer is in the first stage of a three-pronged fix-it strategy to restore profit growth.
The Reject Shop has also started looking for new store sites and is in the early stages of testing an e-commerce offering to complement its network of 355 stores.
Mr Reich, a former Kmart and Target executive who took the helm in December, is in the first stage of a three-pronged fix, reset and grow strategy aimed at reversing a slide in earnings and lifting earnings before interest and tax (EBIT) margins to 5 per cent (from 0.6 per cent in 2020) by cutting costs and simplifying the business.
He…
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