Premier Investments executive chairman Solomon Lew has partly blamed a sales slump at the group’s stationery chain Smiggle on its former boss John Cheston, who was forced out two weeks ago.
Premier on Wednesday ditched its original timetable of January 2025 for a spin-off of Smiggle, while it prioritises a possible merger of its apparel brands with Myer. Mr Lew is optimistic about the prospects of a deal with Myer, but said there was still more work to be done.
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Simon Evans writes on business specialising in retail, manufacturing, beverages, mining and M&A. He is based in Adelaide. Connect with Simon on Twitter. Email Simon at simon.evans@afr.com
