Retailing News From The Stock Market

The resignation of Myer chief , Bernie Brookes, caused a drop in Myer's share price earlier this week but it recovered with a 4% surge later in the week following positive news on retail sales from the Australian Bureau of Statistics.

The January retail trade figure was 0.4% up following a rather flat pre-Christmas sales result. Economists are hoping that lower petrol prices, lower interest rates, and strength in the housing market will lead to retail growth. Wesfarmers share price rose 1.1%  and Woolworths 1.8%.

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