AUSTRALIA: Coles Myer Abnormals To Escalate Above $100m
The board of under-performing Australian retailer Coles Myer met on August 14 to finalise its 2000-2001 report. Some analysts have suggested that cost-cutting reviews could result in Coles adding $A20m-$A30m more to the $A85m the group flagged on 19 July 2001 as being a likely write-down figure for the "horror" year.
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