In afternoon trade the Myer Holdings Ltd (ASX: MYR) share price has fallen around 2.5% lower to 76.5 cents following the Premier Investments Limited (ASX: PMV) annual general meeting.
At the retailer's AGM, its chairman Solomon Lew took aim at Myer over its abject performance this year and reluctance to work with him to improve things.
Mr Lew stated that: "The pressure is on the Myer Board – having aggressively denied our help – they must now deliver. For the Myer Board to rebuff our retail performance and experience, to protect their own jobs, is bad for the Myer business and shareholders."
He finished with a reference to the popular Game of Thrones television series, saying that "Summer is Coming, the numbers won't lie."
It isn't hard to see why Solomon Lew is disappointed with Myer's board. At its own annual general meeting the retailer warned shareholders that trading conditions over November and leading into the critical Christmas shopping period remain challenging.
It also advised that it does not yet know what impact Amazon's Australian launch will have on its business.
