Myer shareholders should be careful what they wish for. It’s great they’re about to get some Solomon Lew magic – Australia’s best rag trader, 60 years’ experience, walks the floor, runs a tight ship, all that stuff – but the proposed merger with Premier Investments doesn’t come without baggage.
The baggage is Premier’s apparel brands – Just Jeans, Jay Jays, Portmans, Dotti and Jacquie E – and their big footprint of 719 stores across Australia and New Zealand and 5500 staff. These brands are yesterday’s heroes in Lew’s empire.
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Anthony Macdonald is a Chanticleer columnist. He is a former Street Talk co-editor and has 10 years' experience as a business journalist and worked at PwC, auditing and advising financial services companies. Connect with Anthony on Twitter. Email Anthony at a.macdonald@afr.com
