The Reject Shop

The Reject Shop is an Australian discount variety store chain. Founded in 1981 as a "seconds" store in South Yarra, Victoria, the company currently operates over 330 stores Australia-wide. The Reject Shop employs over 5,000 staff.

History

Since 1994, the chain was previously majority owned by Macquarie Bank, but was floated on the Australian stock exchange in June 2004 when Macquarie decided to offload its shares. The float was successful, with the company tripling in size two years after going public.

Former chief executive Barry Saunders, recruited to the company in 2000 by Macquarie Bank, retired in 2007. He was replaced in May 2007 by Gerry Masters, a former Coles Group executive, after 33 years with his former employer.

On 11 September 2009, it was announced that Gerry Masters had resigned his position as Managing Director and would be replaced by Chris Bryce, the Chief Financial Officer, effective 14 September 2009.

Despite the strong growth experienced by the company in the years following 2004, a profit warning in December 2010 resulted in a sharp drop in the share price. The company was also affected by the Queensland Floods of 2010, with the company's brand new Ipswich Distribution Center being flooded. The warehouse became operational once again on August 28, 2011. A similar profit warning in June 2014 resulted in another share drop of 50%, making them one of the top worst performing shares in 2014.

Reject Shop

Reject Shop is a home grown Malaysian chain store within the Metrojaya group of companies which focuses on retailing global branded garments which are off-season stocks, discontinued stocks, late order cancellations together with Metrojaya's own merchandise. Well-known brands from the USA, Europe and Australia find their way onto the shelves of Reject Shop. Since its introduction in 1990, Reject Shop now operates a nationwide chain of stores and outlets at leading shopping locations throughout Malaysia.

See also

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