The changes come at the same time as consumer spending slows, with the outlook for the retail sector turning negative amid rising interest rates.
last year, is also appointing a new chief financial officer, Clint May, who is joining from Spotlight Group, the owner of Harris Scarfe and Anaconda. Mr May will replace Kathy Karabatsas, who has been in the job for two years.in the first two weeks of June compared to the first fortnight in May. That came in the same week that Domino’s Pizza and Retail Food Group warned of lower earnings.
Premier declined to comment on the rare executive shake-up, and none of the three departing staff responded to calls. Premier and Just Group are known for stable leadership. But she recommended clients sell Premier shares, adding that the company’s apparel brands segment was exposed to lower income earners who faced pressure on their budgets, and competition from overseas brands.Ms Deng said she also expected a reversion of lease expenses, which would erode the retailer’s profit margins as sales stagnate. Premier is one of the largest retailers in Australia.
Under the group’s restructure, their roles were demoted to general manager, prompting their exit. The restructure is also leading to 30 redundancies. However, others have been elevated including Paris Katsieris, who is now general manager of apparel and accessories, and Ty Symonds, general manager of home.
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