AUSTRALIA: Coles Myer In Crisis As Profits Cut
Australian retailer Coles Myer is in crisis mode after management this week cut its own full-year profit forecasts from 20 per cent growth to 6-8 per cent. Shares on Tuesday fell 27 cents to $6.20, levels last seen in July, and more than $1.8 billion was wiped from the retailer's market capitalisation