Retail

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Clive Peeters Open To Take Over Offers

Clive Peeters CEO Greg Smith who today reported a 90% decline in profits has said that he is open to takeover offers or a major new investor. He has also said that the board is currently considering several incomplete proposals from competitors to buy out the Victorian based consumer electronics Company.
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Harvey Norman Profit Drops 29.6 Percent

Consumer Electronics retailer Harvey Norman who are now under pressure from both Dick Smith, JB Hi Fi and current market conditions has reported a 29 percent fall in first-half profits which fell from $174.14 million for the same period last year to A$123.5 million at December 2008.