Investors wiped more than $46 million off the market value of The Reject Shop on Wednesday after the retailer’s chief executive Andre Reich stepped down from the top job after just two years in the role.
The sell-off was unrelenting even though the discount chain, which operates 367 stores, confirmed it is trading in line with expectations outlined in February.
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Carrie LaFrenz is a senior journalist covering retail/consumer goods. She previously covered healthcare/biotech. Carrie has won multiple awards for her journalism including financial journalist of the year from The National Press Club. Connect with Carrie on Twitter. Email Carrie at carrie.lafrenz@afr.com
