AUSTRALIA: Coles Shares Slip, Consider Buyback Delay
The Australian economic downturn and the collapse of margins in clothing sales is forcing retailer Coles Myer to consider scaling back or delaying an anticipated $450m off-marker share buyback, the Australian Financial Review reported today. A retail analyst believed the buyback talk was one of a number of factors affecting Coles Myer shares today, with a weekend newspaper report highlighting a sudden retail sales drop in recent times.
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