ASX VIDEO (29 October): Myer to become a fashion powerhouse
Full story: https://grafa.com/news/market-update-...
Maya to become a fashion powerhouse. Online luxury retailer satire sees sales surge. And Blue Scope cuts guidance. This is the Graffer Daily ASX Market Update. Now let's take a look at the big stories of the day. Maya is set to become a major fashion retailer after acquiring popular brands like Just Jeans and JJ's from Premier Investments. This strategic move will see Solomon Lou become a major shareholder in Maya, while Premier will focus on expanding its other brands like Peter Alexander and Smiggle. Also making news, online luxury retailer Satire has reported a 22% increase in sales revenue for the first quarter of the financial year. Despite softer global luxury demand, the company has focused on optimising its operations to improve profitability. And finally, Blue Scope Steel has lowered its earnings forecast for the first half of the financial year due to softer demand in East Asia and economic uncertainties in the US. Let's check how the markets are tracking. The ASX is higher with real estate stocks leading the charge. Stay up to date with all the breaking news as it happens by checking out graffer.com.
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