News Articles for Garry Hounsell

Retailer Myer has posted a massive lift in interim profit after a surge in online sales, yet investors were unimpressed and sent shares plunging on the ASX.

Myer chair Garry Hounsell has left the company after criticism from shareholders including retail kingpin Solomon Lew.

Shares in department store Myer have fallen to a two-month low after the embattled retailer reported a full-year net loss of $486 million.

Myer has warned unseasonably warmer weather could dent its fourth-quarter profit after third-quarter sales dipped 2.7 per cent to $635.3 million.

Myer's executive chairman has issued a damning indictment of the department store chain's performance under ex-chief executive Richard Umbers after it slumped to a $476.2 million first-half loss.

Solomon Lew has struck a blow against Myer by securing a first strike against the department store chain's executive remuneration.