New Division By Myer
Myer Emporium, Ltd, has announced plans to establish a national chain of high-vol-ume low-margin retail stores to be based on a Victorian group it is buying. The managing director of the Melbourne-based department store group (Mr Ken Steele) announced that the Myer Emporium had agreed to take ever the Lindsays chain of 14 specialty softgoods stores which operate in the Melbourne suburban area and Victorian provincial cities.
The Lindsays chain will be expanded nationally under Myer ownership.
Its present policy of volume retailing on low profit margins will be retained. Myer will pay an undisclosed amount of cash plus shares to acquire all the issued capital of Lindsay and McKenzie Holdings, Ltd, a Geelong-based company which owns the Lindsays chain. The Lindsays chain has grown from two to 14 stores in the last eight years. It will be conducted as an entirely separate division of the Myer group, under its existing executives and management
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Bibliographic details
Press, Volume CVIII, Issue 31830, 7 November 1968, Page 15
Word Count
158New Division By Myer Press, Volume CVIII, Issue 31830, 7 November 1968, Page 15
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