Reject Shop confirms guidance as chairman retires
June 25, 2010
The Reject Shop Limited (TRS) confirmed that its chairman Brian Beattie would step down from the post following the company’s next board meeting on 14 July. At the same time the discount retailer reaffirmed previous guidance of a post-tax profit of around $22.5 million for the year to 30 June.
Last year, The Reject Shop reported a post-tax profit of $19 million on sales of $412.2 million.
Meanwhile, the company said that current non-executive director, Bill Stevens, would replace Mr Beattie as chairman.
Mr Stevens said Mr Beattie’s focus on basic retailing principles had been a significant influence on the company.
”During this time the business has grown significantly from approximately 100 stores at the time of listing to 196 presently while seeing sales grow almost three-fold,” Mr Stevens said.
At 1120 AEST, The Reject Shop shares were trading up 2c at $16.52.
Last year, The Reject Shop reported a post-tax profit of $19 million on sales of $412.2 million.
Meanwhile, the company said that current non-executive director, Bill Stevens, would replace Mr Beattie as chairman.
Mr Stevens said Mr Beattie’s focus on basic retailing principles had been a significant influence on the company.
”During this time the business has grown significantly from approximately 100 stores at the time of listing to 196 presently while seeing sales grow almost three-fold,” Mr Stevens said.
At 1120 AEST, The Reject Shop shares were trading up 2c at $16.52.
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