Australian retailer Myer rises on new CFO appointment, structural overhaul

Myer Holdings

14/03/2025 24:59

** Shares of Myer Holdings MYR.AX rise as much as 2.7% to A$0.760, their biggest intraday pct gain since March 10

** Co names Kathy Karabatsas as its new CFO, and also proposes a structural overhaul

** The overhaul involves transitioning three of its brands in its Myer Exclusive Brands portfolio, while aiming to streamline its operations for these brands

** Shares of the retailer reflect the subdued sentiment in domestic consumer staples, with the sector .AXSJ down 0.2%

** Stock has lost 38.2% this year, as of last close

 (Reporting by Nichiket Sunil in Bengaluru)

 ((Nichiket.Sunil@thomsonreuters.com;))