UPDATED | US private equity firm The Carlyle Group is looking to Asian markets after buying out major Australian wine company, Accolade Wines – the owner of more than 50 labels including Hardys.
David Jones’s parent company says rumours that it is considering acquiring Myer are baseless.
Myer chief executive Richard Umbers has stepped down from the helm of the struggling department store.
Amazon has launched in Australia, ending months of speculation around the timing of when it would finally open its full offering Down Under and setting up a sales frenzy ahead of Christmas.
Oroton stores will operate as usual despite the 79-year-old Australian luxury handbag retailer collapsing into voluntary administration.
Myer has dropped the sales targets it set as part of its much-vaunted turnaround plan after unveiling another weak set of figures to investors.