This article is about the Australian retail chain. For the Malaysian retail, see Reject Shop.
The Reject Shop Limited is an Australian discount variety store chain selling a range of goods such as food, snacks, gift cards and party, health and beauty aids, cleaning supplies, storage, kitchenware, homewares and seasonal items in 375 store locations across Australia.
Founded in 1979, The Reject Shop employs over 5,000 staff.[2] The group replaced a number of Chickenfeed stores in Tasmania, and took up the space that was left when Retail Adventures closed down.
The first store was opened in South Yarra, Melbourne by founders Ron Hall and John Shuster in 1981.[3] This shop sold seconds and discontinued lines, hence The Reject Shop name.[4]
In 1994, the chain became majority owned by Macquarie Bank. It was floated on the Australian Securities Exchange in June 2004.[5][6] The float was successful, with the company tripling in size two years after going public.[7]
Former Chief Executive Barry Saunders, recruited to the company in 2000 by Macquarie Bank, retired in 2007.[8] He was replaced in May 2007 by Gerry Masters, a former Coles Group executive, after 33 years with his former employer.[9]
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 Ipswich Distribution Centre being flooded. The warehouse became operational once again on 28 August 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.[10][11]
In 2013, the company commenced an aggressive growth plan, following the closure of a number of Retail Adventures stores. The company passed the 300 store milestone in October 2013.
On 8 July 2014, The Reject Shop announced the appointment of Ross Sudano (formerly of Little World Beverages) as chief executive officer. His appointment follows the departure of Chris Bryce in June 2014, after leading a significant growth phase of the business.[12]
In December 2019, the company announced Andre Reich as chief executive officer, effective from 13 January 2020.[13] For the financial year ending 30 June 2020, The Reject Shop posted increased sales of over AUD$820m.[14]
On 2 September 2020 the company in Australia announced a partnership with British supermarket chain Tesco.[15] In October they launched a lowest price guarantee [16]
In November 2020, The Reject Shop launched a partnership with DoorDash.[17]
reject, shop, this, article, about, australian, retail, chain, malaysian, retail, reject, shop, limited, australian, discount, variety, store, chain, selling, range, goods, such, food, snacks, gift, cards, party, health, beauty, aids, cleaning, supplies, stora. This article is about the Australian retail chain For the Malaysian retail see Reject Shop The Reject Shop Limited is an Australian discount variety store chain selling a range of goods such as food snacks gift cards and party health and beauty aids cleaning supplies storage kitchenware homewares and seasonal items in 375 store locations across Australia The Reject ShopThe Reject Shop in Burnie TasmaniaCompany typePublicTraded asASX TRSIndustryDiscount variety retailFounded1979 45 years ago 1979 FounderRon Hall amp John Shuster 1 HeadquartersKensington Victoria AustraliaNumber of locations356Area servedAustraliaKey peopleClinton Cahn CEO RevenueA 788 2 million 2022 Net incomeA 1 1 million 2020 Number of employees5 600Websiterejectshop wbr com wbr auFounded in 1979 The Reject Shop employs over 5 000 staff 2 The group replaced a number of Chickenfeed stores in Tasmania and took up the space that was left when Retail Adventures closed down Contents 1 History 2 See also 3 References 4 External linksHistory editThe first store was opened in South Yarra Melbourne by founders Ron Hall and John Shuster in 1981 3 This shop sold seconds and discontinued lines hence The Reject Shop name 4 In 1994 the chain became majority owned by Macquarie Bank It was floated on the Australian Securities Exchange in June 2004 5 6 The float was successful with the company tripling in size two years after going public 7 Former Chief Executive Barry Saunders recruited to the company in 2000 by Macquarie Bank retired in 2007 8 He was replaced in May 2007 by Gerry Masters a former Coles Group executive after 33 years with his former employer 9 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 Ipswich Distribution Centre being flooded The warehouse became operational once again on 28 August 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 10 11 In 2013 the company commenced an aggressive growth plan following the closure of a number of Retail Adventures stores The company passed the 300 store milestone in October 2013 On 8 July 2014 The Reject Shop announced the appointment of Ross Sudano formerly of Little World Beverages as chief executive officer His appointment follows the departure of Chris Bryce in June 2014 after leading a significant growth phase of the business 12 In December 2019 the company announced Andre Reich as chief executive officer effective from 13 January 2020 13 For the financial year ending 30 June 2020 The Reject Shop posted increased sales of over AUD 820m 14 On 2 September 2020 the company in Australia announced a partnership with British supermarket chain Tesco 15 In October they launched a lowest price guarantee 16 In November 2020 The Reject Shop launched a partnership with DoorDash 17 See also editHomeart Target Australia Best amp LessReferences edit The Reject Shop Reject Shop Limited www ibisworld com au Retrieved 6 October 2018 The Reject Shop The Reject Shop Reject Shop prepares to float out of bargain basement The Age 19 April 2004 Reject Shop gears up for June float The Age 29 April 2004 The Reject Shop goes has tripled in size Sydney Morning Herald 12 June 2006 Achievements show Saunders is no reject Sydney Morning Herald 16 January 2007 Executive who started at the bottom aims to develop a rejection complex The Age 31 May 2007 Reject Shop shares drop as profits take hit Sydney Morning Herald 10 June 2014 Retrieved 3 July 2014 Worst performing stocks in fiscal 2014 Finance News Network 1 July 2014 Retrieved 3 July 2014 Reject Shop names Ross Sudano as new chief replacing Chris Bryce Sydney Morning Herald 8 July 2014 Retrieved 9 July 2014 Chief Executive Officer Appointment PDF The Reject Shop 9 December 2019 Retrieved 25 May 2020 The Reject Shop PDF Retrieved 24 September 2020 The Reject shop introduces surprising new grocery staples News com au 2 September 2020 The Reject Shop Offers Lowest Price Guarantee The Reject Shop stores hit by CBD exodus Australian Financial Review 3 June 2021External links editOfficial website nbsp Retrieved from https en wikipedia org w index php title The Reject Shop amp oldid 1199907882, wikipedia, wiki, book, books, library,
