Sydney not so eeeasy as Clive Peeters relocates key staff

By James Wells

SYDNEY: Clive Peeters managing director, Greg Smith, has announced that experienced staff will be relocated from Melbourne to help out the struggling Sydney business.

Yesterday Clive Peeters informed the market that its earnings outlook for the financial year ending 30 June will be flat with net profit after tax expected to be in the range of $12.1 million to $13.1 million.

Smith blamed this flat result on the Sydney business which he said was performing below expectations. To resurrect the business, Smith has announced he will be relocating staff from its home state of Victoria to help improve retailer’s performance in Sydney.

“To increase the focus on New South Wales stores, we will transfer one of our highly regarded Clive Peeters store managers from Victoria to take up the new position of New South Wales state sales manager, and another experienced manager from Melbourne to head up the new Bella Vista store.

“This will significantly strengthen the store manager experience, reinforce our culture, and add to our training resources in New South Wales. Both appointments will take place in July 2007,” Smith said in a statement to the Australian Stock Exchange yesterday.

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