Markets

Retail powerhouse Premier Investments says it will pay back $15.6 million in JobKeeper after dodging the suggestion earlier this year

Australian retail giant Premier Investments says it will reimburse the $15.6 million in unused JobKeeper subsidies after reporting massive profits. The group kept accrued JobKeeper payments as ‘insurance’ to cover employees impacted by snap lockdowns, but found those taxpayer funds were “ultimately not required”. Labor MP Andrew Leigh says the […]
Retail powerhouse Premier Investments says it will pay back $15.6 million in JobKeeper after dodging the suggestion earlier this year
Markets

Solomon Lew says he can see why Myer tried to hide its sale numbers

Myer has confirmed leaked quarterly sales numbers showing a 4.8% drop in the first quarter. Solomon Lew’s Premier Investments Limited says the numbers, forced by the ASX to be disclosed publicly, are disastrous. He says even Father Christmas couldn’t turn around such a result. Billionaire retail veteran Solomon Lew says […]
Solomon Lew says he can see why Myer tried to hide its sale numbers
Markets

Myer has been hit with a legal letter in the latest move by Solomon Lew

Solomon Lew’s Premier Investments has fired off a legal letter to Myer. He wants the department store to release quarterly sales numbers. To withhold such inform could be unlawful, he says. Lawyers for Solomon Lew’s Premier Investments have demanded Myer release its quarterly trading numbers, saying withholding such information could […]
Myer has been hit with a legal letter in the latest move by Solomon Lew
Markets

Solomon Lew’s report card on Myer: ‘An absolute disgrace’

Solomon Lew says the board of directors of Myer is an absolute disgrace. His Premier Investments, the largest shareholder in Myer, wants the board replaced. Lew says the banks are now in control of Myer after the department store refinanced. Billionaire retailer Solomon Lew has prepared a report card on […]
Solomon Lew’s report card on Myer: ‘An absolute disgrace’
Markets

Solomon Lew says Myer’s online sales numbers don’t add up

Premier Investments says Myer’s online business growth isn’t the standout it’s claimed to be. The rate of online sales growth is actually falling, halving between the first and second quarters of 2018. And Premier says the decrease in store sales and a significant increase in stock shrinkage are indicative of […]
Solomon Lew says Myer’s online sales numbers don’t add up
Markets

Smiggle drives Solomon Lew’s Premier Investments to a record profit

Solomon Lew’s Premier Investments posted a 9.36% rise in net profit after tax to a record $78.6 million for the half year on the back of strong growth in children’s stationery chain Smiggles and pyjamas label Peter Alexander. Lew says Premier Investments hit underlying first half EBIT (earnings before interest […]
Smiggle drives Solomon Lew’s Premier Investments to a record profit
Markets

Billionaire Solomon Lew is preparing for another attack on the board of Myer

Solomon Lew’s Premier Investments has asked for Myer’s shareholder register as it prepares another campaign to topple the board of directors of at the department store chain. Premier, which is the largest single shareholder of Myer with a 10.8% stake, is preparing an extraordinary shareholders meeting. Premier, which also owns […]
Billionaire Solomon Lew is preparing for another attack on the board of  Myer
Markets

The Myer board says Solomon Lew wants to take over without paying for it

Garry Hounsell, the chairman-elect of Myer, has launched a counter attack against Solomon Lew’s Premier investments, which is agitating for board representation. Hounsell, in a letter to shareholders, says the appointment of three directors related to Lew’s Premier Investments would result in its 10.77% holding controlling 43% of the non-executive […]
The Myer board says Solomon Lew wants to take over without paying for it
News

Solomon Lew’s Premier Investments is getting walloped

Solomon Lew’s Premier Investments continues to face selling pressure, a day after announcing its full-year results. The fashion retail business, which owns brands such as Smiggle, Just Jean, Portmans and Peter Alexander, and is run by former DJs CEO Mark McInnes, saw its shares drop 2.5% drop yesterday following the […]
Solomon Lew’s Premier Investments is getting walloped
Markets

The billionaire owner of Smiggle is behind the ‘strategic’ Myer raid

Billionaire Solomon Lew is behind the on-market raid on department store chain Myer. The fashion industry veteran used his listed company Premier Investments, the operator of children’s stationery chain Smiggle, plus fashion labels Peter Alexander, Just Jeans and Portmans, to buy shares in the retailing giant. Premier Investments Limited issued […]
The billionaire owner of Smiggle is behind the ‘strategic’ Myer raid
Markets

Solomon Lew defies the retail slump with pyjamas and pencils

Solomon Lew’s Premier Investments has shrugged off the retail slump, posting record first half sales, helped by strong growth in the bright and brash children’s stationery chain Smiggle. Statutory profit after tax for the first half was flat at $71.87 million, up just 0.46%, but underlying net profit before tax […]
Solomon Lew defies the retail slump with pyjamas and pencils