Latest Retail News – 4/3/12
1. Harvey Norman reports 2.1% drop in profit with same store sales down 6.5%.
2. BNB Paribas believes retailers will remain under pressure particularly those selling household goods.
3. 3000 pairs of Ksubi brand jeans stolen from Sydney warehouse.
4. Shopping Centre Council tells ACCC it will not cooperate on retail tenancy code of conduct.
5. NAB reports online sales only 4.9% of total retail sales with 75% going to domestic online outlets.
6. David Jones report 6.6% sales drop in first half.
7. Dunn & Bradstreet report 48% increase in small business failures over last 12 months.
8. Troubled bedding retailer Sleep City to be closed down.
9. Woolworths aims to chalk-up $1billion in online sales within 2 years.
10. David Jones CEO predicts 10% of sales will be online.
11. Queensland based Wow Audio, with 15 stores, goes into receivership.
12. Pizza Capers to become part of RFG along with Brumby’s, Michel’s, and Donut King.
13. Woolworths 6 months profit falls 16.6% on back of Dick Smith restructure.
14. Bankwest survey shows Gen-Y (32 or under) have become the most frugal consumers.
15. Retail sales technically up 0.3% in January but trend remains flat.
16. Ibisworld doubts sustainability of Daily Deal Sites as losses mount.
17. Michel’s Patisserie awarded Australia’s best coffee shop by Roy Morgan Research.