Latest Retail News – 18/02/2012
1. Australian cities now rank in the top 20 most expensive places to live.
2. Westfield announce 38% profit jump on back of record no. of retail leases.
3. JB HiFi reports 9.4% profit drop for first half.
4. Furniture retailer Nick Scali reports sales up 9% but profit down 10%.
5. Sleep City with, 64 Australian stores, placed in administration.
6. JB HiFi to start selling electronic musical instruments in 2012.
7. NAB survey reports retail prices continue to slide due competition.
8. Reject Shop report 4% rise in first half profit.
9. Noni B reports more than 50% rise in first half profit after reining in costs.
10. Domino’s Pizza enjoy 23% first half profit rise on back of successful new product launches.
11. Jeweller Michael Hill reports 11% increase in 1st half profit largely from US/Canada operations.
12. Billabong looks to close up to 150 stores worldwide as it restructures.
13. Wesfarmers (Coles, Target etc.) report almost flat first half performance.