Australian retailing major Coles Myer has come under scrutiny this week. While analysts are receiving mixed reports about the company’s e-tail performance, institutional investors are asking – who’s the boss?
The group’s eponymous website, e-colesmyer, turned over A$142m (US$71.8m) in the six months to 31 December last year. Managing director Jon Wood has since hinted however that some of its operations are unprofitable.
Coles Myer has said that it will not discuss the status of its online division, but analysts have criticised the group for inconsistencies in performance throughout the different websites of its e-operations.
Inside the group meanwhile, the future leadership of the company is under question after an announcement was made stating that CEO Dennis Eck will be replaced.