A swathe of executives and directors at major retail businesses have taken the opportunity to top up their shareholdings in the companies they oversee after a volatile earnings season, which saw some companies’ stocks plummet.
Mr Harvey bought the additional shares on February 28, the first trading day after Harvey Norman’s release of its half-year results, where it reported a. However, analysts lauded the company’s resilience given the tough trading conditions, sending the stock up 4 per cent. However, many directors have viewed this as a buying opportunity. City Chic chairman Michael Kay bought 50,000 shares in the plus-sized clothing retailer for around $192,000 on February 25, a purchase that would have cost an extra $60,000 just two days earlier. City Chic’s shares fell 30 per cent on February 23 after a drop in half-year earnings.Similarly, Conrad Yiu, co-founder and non-executive director of Temple & Webster picked up 20,915 shares valued at around $150,000 late last week.
domp So Gerry is using all that FREE tax payer money that Scomo gave him to buy back shares instead of give it back to Australians? If only all the people that committed suicide from robodebt calls could make the same decision.
domp He’s looking more like Scrooge everyday.