Miller's Retail major shareholder and managing director Gary Perlstein is confident new initiatives are gaining "traction", less than a month after a profit downgrade shocked the market and he joined forces with new shareholder Investec Wentworth Private Equity to bring their combined shareholding to 15.8 per cent. Miller's which owns Crazy Clark's, Katies, Go-Lo and Miller's Club stores yesterday reported a $10.1 million interim loss, including $29.6 million worth of write-downs for its discount variety stores. This compares to last year's profit of $48.2 million. Jemima Whyte
