Apr 9, 2015

Myer to halt expansion plans: report | The Australian

Department store operator Myer is believed to be talking to landlords about the possible scrapping of two planned new stores.
The troubled retailer, which announced a profit downgrade last month and is currently the subject of takeover speculation, has been undertaking a review of operations and The Australian Financial Review reports that two of its three planned new stores will likely be casualties.
Myer is widely tipped to close several underperforming outlets when leases expire in the near-term, but the firm wouldn't be drawn on speculation planned developments in the Gold Coast and Darwin may also face the axe.
"We have conversations with landlords all the time and wouldn't reveal the details of those conversations," a Myer spokesperson told the AFR

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