242
Fashion Jobs
H&M
Visual Merchandiser Manager- Newmarket
Permanent · AUCKLAND
L'OREAL GROUP
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Permanent · AUCKLAND
ABBOTT
Tpm Contract Manufacturing Manager
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ESSILORLUXOTTICA GROUP
Optometrist - Opsm Rotorua
Permanent · ROTORUA
DANGERFIELD
Online Coordinator
Permanent · AUCKLAND
PUMA
Key Account Manager nz
Permanent · AUCKLAND
L'OREAL GROUP
Key Account Manager
Permanent · AUCKLAND
ESSILORLUXOTTICA GROUP
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Permanent · AUCKLAND
ESSILORLUXOTTICA GROUP
Retail Associate | Sunglass Hut Dunedin
Permanent · DUNEDIN
ESSILORLUXOTTICA GROUP
Retail Associate | Opsm Rangiora Eyecare
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PETER ALEXANDER
2 x Casual - Sales Assistant - Peter Alexander nz - MT Maunganui
Permanent · AUCKLAND
PETER ALEXANDER
2 x Part Time - Sales Assistant - Peter Alexander nz - MT Maunganui
Permanent · AUCKLAND
LULULEMON
Assistant Manager | Christchurch (Tuesday - Saturday Rotation)
Permanent · CHRISTCHURCH
ICEBREAKER
Icebreaker : Sales Associate, Casual - Wellington Airport Touchlab
Permanent · WELLINGTON
DFS
Personal Shopper
Permanent · AUCKLAND
H&M
Department Manager- Chartwell (Hamilton)
Permanent · HAMILTON
H&M
Store Manager Wellington
Permanent · WELLINGTON
H&M
Sales Advisor- 28h
Permanent · AUCKLAND
H&M
Assistant Store Manager- Sylvia Park
Permanent · AUCKLAND
H&M
Department Manager- Sylvia Park
Permanent · AUCKLAND
LOVISA
Store Manager | nz | Palmerston North
Permanent · PALMERSTON NORTH
LOVISA
Store Manager | nz | Chartwell
Permanent · HAMILTON
By
Reuters
Published
Mar 21, 2018
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Australia's Myer posts H1 loss on writedowns

By
Reuters
Published
Mar 21, 2018

Australia’s biggest department store chain Myer Holdings on Wednesday posted its worst half-year result since listing as it wrote down the value of its assets due to weak sales in its busiest period.

Myer


Myer reported a net loss of A$476.2 million ($366.0 million) for the six months to Jan. 27, against a profit of A$62.8 million a year earlier, prompting the company to suspend its interim dividend payment.

Excluding a non-cash impairment charge of A$500.2 million, Myer said its underlying half-yearly profit came in at A$40.1 million. This was in line with company guidance in February, but also its worst underlying interim result since its 2009 listing.

Total sales fell 3.6 percent as the 118-year-old staple of Australian retail struggled to meet challenges to its business model.

Bigger online rivals like Amazon.com Inc have kept bargain-hunters at home, while global fashion chains like H&M Hennes & Mauritz AB have lured shoppers with wider ranges.

Myer, meanwhile, is facing off against its biggest shareholder, veteran retail investor Solomon Lew, who has been using his 10.7 percent stake to lobby smaller shareholders for support as he seeks to remove Myer’s entire board.

Executive Chairman Garry Hounsell said the half-year results reflected a number of execution issues, including the failure to respond appropriately to a heightened competitive environment prior to Christmas.

Myer’s results followed a slowdown in the end-of-calendar-year holiday season, with national retail sales data showing a weaker-than-expected December for retailers across the board.

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