AUSTRALIA: Coles Myer rejects break-up talk

Coles Myer chief executive Dennis Eck has rejected calls to break-up
the group, claiming that Australia’s largest retailer still had huge upside
potential.

Coles Myer last week reported a 33% slide in net profit to A$196.4m (US$96.73m)
for the first half and has been attempting to fix its struggling Myer Grace
Bros and Target lines.

"I am very much still of the view that this company has a huge upside
potential and it is our job to get that out, so people understand it,"
Mr Eck told Channel Nine’s Business Sunday program.

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