Amazon launch
strikes a glitch – Thursdays launch of the Amazon Australia website struck a glitch
according to news sources with consumers unable to access their site. It turns
out that Amazon had only made the site available to a small group of testers. Presumably
all the publicity was welcomed by Amazon as they continue to tease consumers
and rivals with their plans.
Specialty
Fashion Group to close 300 stores – the owners of brands like Katies, Millers,
and Rivers have announced that they are reducing their store footprint with a
reduction from around 1000 stores currently to 700 stores by 2020. SFG reported
an after tax loss of $8.4m for the FY2017.
Bunnings to
finally offer online ordering in 2018. – Bunnings will offer their Special
Orders range online in 2018. This range covers items that are not held in stock
but are ordered in for the customer. Special orders could previously only be
ordered in-store.
Jack Ma
gives advice to start-ups – “If it is hot, forget it” – see full article here -
https://www.insideretail.com.au/blog/2017/11/23/jack-ma-if-its-hot-forget-it/
Fruit Market
Operator Fined Over $660,000 - The operator of the Sunshine Fruit Market was
fined a record $660,000 for incorrectly paying a worker, an Afghan refugee,
including a period when the worker received no pay at all. The underpayments
date back to 2012 and became the subject of litigation by the Fair Work
Ombudsman.
One Liners:
1. Deloittes say retailers downbeat about growth prospects this Christmas.
2. Baby Bunting downgrades its full year guidance.
3. Walmarts online sales up 50% last quarter.
4. Old Navy sales drives Gap performance.
5. RBA warns banks about passing Tap-n-Go costs to retailers.
6. Woolworths launches new sustainability effort on waste.
7. Uniqlo to open 5th Melbourne store at Highpoint.
8. Ikea recalls dressers as 8th child dies.
9. Kathmandu raises profit with lower sales and better margins.
10. Harrods to spent millions re-furbishing for Asian market.
11. Myer battle continues as AGM rejects Lew position on Board.
12. Woolworths to open more “Dark Stores” (warehouses for e-commerce).