Latest Retail News – 25/02/2012
1. Pacific Brands (Bonds etc.) post $362 million loss.
2. US carmaker General Motors reports record $7.1 billion profit after coming out of bankruptcy.
3. Luxottica plans 100 store closures in Budget Eyewear and Just Specs as it concentrates on OPSM brand in Australia.
4. Biscuit maker, Unibic, seeks white knight as creditors close in.
5. Specialty Fashion Group (Katies, Millers) report 62% drop in first half profit.
6. Woolworth’s trials electronic shopping wall at Sydney railway station.
7. Coles and Woolworths make top 21 list of retailers worldwide, the only Australian companies in the top 250.
8. Bag retailer, Crumpler’s, wins international award for store design at its Doncaster flagship.
9. Commsec advise debit and credit card usage increased again in January.
10. Fantastic Furniture sales up 3.2% and profit up 35% in first half.
11. Increased margins give Athletes Foot record profit (up 5.8%) despite lower sales.
12. Flight Centre profit up 15.7% as Australians travel.
13. Super Retail Group post 40% increase in first half profit.
14. World’s largest home improvement retailer, Home Depot, reports 32% net income increase in 4th quarter.
15. Neilson survey shows Australia tops consumer confidence ahead of Norway and Canada.
16. Google/MYOB report 30,000 free websites established for Australian businesses over last 12months.
17. Wotif profit up 14% as it expands into flight bookings.
18. ACCC warns it will protect new online stores from unfair competition by larger entities.