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AUSTRALIAN RETAIL CHIEF HARVEY NORMAN SLAMS COLES MYER M'GEMENT.
SYDNEY, July 1 Asia Pulse - Gerry Harvey, wealthy boss of a retail chain, has strongly criticised the management of Australia's largest retailer Coles Myer Ltd (ASX:CML), offering his own services for nothing to turn the company around.
Mr Harvey, whose own company Harvey Norman Holdings Ltd (ASX: HVN) has also had a bumpy ride this year, said today it was inexcusable that Coles Myer had to issue a profit warning last week.
"They are lousy retailers. It's just a case of total mismanagement," Mr Harvey told the Nine Network today.
"That's not as bad as HIH, it's not as bad as Harris Scarf but it's not a long way behind - this is really bad stuff."
Mr Harvey said this great tragedy would end if he were to take the helm.
"I've thought of it ... I'll go in and run it and instead of it being worth seven or eight billion dollars ... it could be worth $A20 billion ($US10.23 billion)," he said.
"It's the greatest money-making opportunity in this country."
- Gerry Harvey says no need to break-up Coles Myer group.
- News wire article from: Asia Africa Intelligence Wire September 15, 2002 700+ words
...operational issues. Mr Harvey said Coles Myer reaped a quarter of the retail...split of the operations. Mr Harvey said Coles Myer needed strong leadership...he would consider running Coles Myer, Mr Harvey said: "I could run that...
- Gerry Harvey thinks Coles Myer squabbles a comedy of errors.
- News wire article from: Asia Africa Intelligence Wire October 13, 2002 700+ words
...Retail magnate Gerry Harvey today described board shenanigans at Coles Myer Ltd as a "comedy of errors". The Harvey Norman Holdings Ltd...not retailers," Mr Harvey told the Seven Network's Sunday Sunrise. Coles Myer Ltd new chairman Rick...
- Harvey Norman's Gerry says Rebel board was like Coles Myer now.
- News wire article from: Asia Africa Intelligence Wire September 16, 2002 700+ words
...Holdings Ltd chairman Gerry Harvey has compared the dysfunctional...profile shenanigans at Coles Myer Ltd. Mr Harvey said an improved management...and a bit like the Coles Myer board at the moment - dysfunctional," Mr Harvey told ABC TV's Business...
- The Herald-Sun: Harvey attacks Coles Myer.
- News wire article from: Asia Africa Intelligence Wire September 16, 2002 700+ words
...Australian businessman Gerry Harvey says he could run Coles Myer better than it has been run in 20 years. The Harvey Norman chairman said...potential advantages. Harvey's comments came after...erupted between retiring Coles Myer chairman Stan Wallis...
- HARVEY NORMAN: WE'RE NOT TALKING TO COLES MYER.
- Magazine article from: Ozequities News Bites August 17, 2006 700+ words
...EXCHANGE Discount retailer Harvey Norman Ltd has responded...changes in ownership of Coles Myer. STOCK DASHBOARD: AUGUST 17, 2006 HARVEY NORMAN HOLDINGS Closing...DASHBOARD: AUGUST 17, 2006 COLES MYER LTD. Closing Price...
- Corporate watchdog to monitor Coles Myer board blue.
- News wire article from: Asia Africa Intelligence Wire September 16, 2002 700+ words
...non-food assets. Harvey Norman Holdings Ltd chairman Gerry Harvey weighed into the...describing the Coles Myer board as "dysfunctional...each other," Mr Harvey told ABC TV's Business...Breakfast program. Coles Myer shares closed one...
- WRAP - Corporate watchdog to monitor Coles Myer board blue.
- News wire article from: Asia Africa Intelligence Wire September 16, 2002 700+ words
...non-food assets. Harvey Norman Holdings Ltd chairman Gerry Harvey weighed into the...describing the Coles Myer board as "dysfunctional...each other," Mr Harvey told ABC TV's Business...Breakfast program. Coles Myer shares closed one...
- KKR CONSORTIUM DROPS BID FOR COLES MYER AFTER KNOCKBACK.
- News wire article from: AsiaPulse News October 19, 2006 700+ words
...why the company is worth more." The Coles Myer board has undertaken its own valuation...the latest offer. This week retailer Harvey Norman Holdings Ltd's chairman Gerry Harvey said Coles Myer was worth $20 a share. It is also understood...
- AUSTRALIA'S COLES MYER APPROACHED FOR OWNERSHIP TALKS.
- News wire article from: AsiaPulse News August 17, 2006 700+ words
...There is also speculation that Harvey Norman Holdings Ltd chairman Gerry Harvey is part of a syndicate bidding for Coles although Mr Harvey was unavailable for comment...struggle to find synergies although Coles Myer models its retailing on Tesco...
- AUSTRALIA'S COLES MYER TO SELL ITS MEGAMART STORES.
- News wire article from: Asia Africa Intelligence Wire August 16, 2005 700+ words
...Myer department stores. Coles Myer today unveiled a 13...its earnings forecasts. Coles Myer has decided to sell its...which compete with the Harvey Norman chains in products...competitive market segment," Coles Myer said. Coles Myer is also...
Source: HighBeam Research, AUSTRALIAN RETAIL CHIEF HARVEY NORMAN SLAMS COLES MYER M'GEMENT.