×
93 030
Fashion Jobs
FABLETICS
Director, Technical Design - Yitty
Permanent · EL SEGUNDO
PUMA
Manager, Basketball Marketing
Permanent · Somerville
BANANA REPUBLIC
General Manager - Destiny Mall
Permanent · Syracuse
BANANA REPUBLIC
General Manager - Seattle Premium
Permanent · Tulalip Bay
NORDSTROM
Retail Stock & Fulfillment - Northshore
Permanent · Peabody
NORDSTROM
Asset Protection Agent - Boca Raton Towne Center
Permanent · Boca Raton
NORDSTROM
Asset Protection - Agent - Metro Pointe at South Coast Rack
Permanent · Costa Mesa
KOHLS
Full-Time Loss Prevention Supervisor
Permanent · Tacoma
KOHLS
Full-Time Sales Supervisor - Softlines
Permanent · Jeffersonville
KOHLS
Full-Time Sales Supervisor - Softlines
Permanent · Butler
KOHLS
Full-Time Sales Supervisor - Softlines
Permanent · Herndon
KOHLS
Full-Time Sales Supervisor - Hardlines
Permanent · Ames
TAPESTRY
Manager, Supply Operations
Permanent · New York
TAPESTRY
Manager, Ecommerce Content & Strategy
Permanent · New York
GAP
General Manager - mt. Pleasant t/c
Permanent · Mount Pleasant
NEW BALANCE
Senior Financial Analyst
Permanent · Boston
JCREW
District Manager
Permanent · Sugar Land
SACK OFF 5TH
Asset Protection Investigator
Permanent · CHARLOTTE
SACK OFF 5TH
Asset Protection Guard
Permanent · ATLANTA
BLOOMINGDALE'S
Asset Protection Visual Security Officer, Part Time - Soho
Permanent · NEW YORK
ABERCROMBIE AND FITCH STORES
Abercrombie & Fitch - Manager in Training, Short Hills
Permanent · Millburn
ATHLETA
Assistant General Manager - Park Meadows
Permanent · Lone Tree
Published
Jun 21, 2018
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Is Myer looking to sell Sass & Bide, other house brands?

Published
Jun 21, 2018

Struggling Australian department store chain Myer could be looking to sell some of its brands with new chief executive John King reportedly mulling the disposal of Sass & Bide, Marcs and David Lawrence.


Sass & Bide


The Australian reported that Melbourne-based advisory firm Flagstaff is working on a plan to find buyers for the fashion brands.

Myer had been extremely protective of these brands under previous management but King is reportedly less committed to them. That might please activist shareholder Solomon Lew of Premier Investments, who has ben critical of the slow pace of change at Myer and its ongoing support for Sass & Bide in particular.

Almost a year ago, in a trading update, Myer said that brand "has been challenged during the past year" and announced a A$38.8 million write-down related to the label. 

Myer paid as much as A$70 million for it several years ago but it hasn’t turned into the cash cow that it hoped and has weighed on the firm’s overall performance, the newspaper said.

The Marcs and David Lawrence brands collapsed last year and saw Myer stepping in as as a buyer of last resort, after the administrator was unable to find another buyer.

John King, once led a turnaround at House of Fraser when he was CEO there (before that chain’s latest, well-documented problem began) and is reported to see owning such brands as a distraction from the main task of  getting the department store chain back on track.

Copyright © 2022 FashionNetwork.com All rights reserved.