AUSTRALIA: Premier extends $814m offer for Just Group
Premier Investments has extended its offer for Just Group by over a month to 15 August, but the Australian retailer's board is showing few signs of considering the bid.
Premier, chaired by retail mogul Solomon Lew, first tabled its AUD814m (US$777m) offer for the clothing retailer in May.
But Just Group's board has once again reacted unfavourably to the offer, saying Premier wants to "get the company on the cheap."
Just Group chairman Dr Ian Pollard went onto say: "The offer is opportunistic and fails to reflect the long term value of Just Group."
Earlier this month, Just Group dropped its full-year forecast to be between 29.2 and 30.6 cents per share, compared to 33.4 cents as included in its recent target's statement.
In reaction, Premier released a statement saying it was "concerned and astonished" by the profit downgrade.
Lew said at the time: "Premier has no confidence in anything that the Just board says about its future performance and we are currently considering our position in relation to our bid."
Help test our new apparel sourcing tool.
The battle for a share of the Chinese sportswear market is probably the most intense in the world. For Adidas, however, 2008 is the year the brand finally took pole position, buoyed by its sponsorship...
UK sportswear retailer JD Sports Fashion has posted a 2.8% increase in like-for-like revenues over the festive period, after delaying its Christmas sale until Boxing Day in an attempt to maintain marg...
Shoe and apparel maker Wolverine World Wide Inc has bought the Cushe footwear line for an undisclosed sum in a move that expands its portfolio of lifestyle brands....
Iconix Brand Group Inc has renewed the license agreement with Target Corporation for its Mossimo brand through to 31 January 2012....
The following is a general roundup of US apparel and shoe chains' December 2008 sales results. The list will be updated as new results become available....
Iconix Brand Group Inc, owner of brands such as Candie's, Badgley Mischka, Joe Boxer and Mossimo, is to develop its business in Latin America through a joint venture with New Brands Americas LLC....
Apparel retailer J Crew Group Inc has slashed its fourth quarter and full year earnings outlook on worse than expected sales and margins over the holiday period....
US retail giant Wal-Mart Stores has announced that Doug McMillon will be promoted to president and chief executive officer of Wal-Mart International, the company's second largest operating segment....
- Unlocks for the future fashion sourcing landscape
- EU eyes mandatory due diligence for apparel supply
- Geo-political uncertainty and how to survive it
- What TTIP might mean for US, EU textiles & apparel
- Where next for Corporate Human Rights Benchmark?
- Li & Fung forms supply chain partnership with PVH
- US Q4 in brief – Finish Line, Oxford Industries
- Sears has "substantial doubt" of future
- World Bank commits $57bn to sub-Saharan Africa
- Target unveils "ambitious" store re-design plans
- Central and East Europe Report Package
- Central America strategic sourcing review - a focus on Guatemala, El Salvador and Honduras
- Southeast Asia strategic sourcing review – a focus on Cambodia, Vietnam and Myanmar
- When Things Go Wrong - A Practical Guide to Managing Common Problems in Apparel Sourcing
- Outdoor performance apparel 2016: A broader perspective