The famous department store will acquire control of fashion labels Portmans, Dotti, Jacqui, Just Jeans and Jay Jays.
Shareholders of Myer and Premier Investments today backed an agreement enabling the department store to expand its retail footprint to more than 780 stores.
Proxy voting figures released ahead of today's separate meetings by Myer and Premier shareholders showed heavy majorities in favour of the deal.Retail giant Myer will take charge of Premier Investments' clothing division under a deal backed by shareholders from both companies. She admitted Myer has "not been immune" from the cost-of-living pressures facing customers and the retail industry.
She said the merger would establish a "leading retail platform" in Australia and New Zealand, which recorded more than $4 billion worth of sales in the last financial year.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Myer and Premier Investments shareholders approve deal to buy Just Jeans, DottiShareholders of Myer and Premier Investments have both overwhelmingly voted in favour of a deal that will see the department store acquire fashion chains including Just Jeans, Dotti and Jay Jays.
Read more »
Why Myer and Premier’s sluggish sales are a sign of pain to comeIf you think about the two groups as the canaries in the coal mine of Australian retail, today, those two birds appeared to be struggling to chirp.
Read more »
Why Myer and Premier’s sluggish sales are a sign of pain to comeIf you think about the two groups as the canaries in the coal mine of Australian retail, those two birds appear to be struggling to chirp.
Read more »
Historic Myer Family Estate Sells for $20 MillionA grand Toorak estate owned by the Myer family for nearly 70 years has been sold for around $20 million, marking a strong start to 2024 for Melbourne’s prestige property market.
Read more »
Myer sales go backwards as cautious shoppers look for savingsShares in the department store giant have plummeted 17 per cent as the company reported lacklustre Christmas trade.
Read more »
Myer Shares Dive After Sales Decline in Key Holiday PeriodMyer shares have plummeted following the announcement of a sales decline in the second half of 2024, a period encompassing the crucial Christmas and Black Friday shopping season.
Read more »