Retail News One-liners – 4/2/2018
1. Ikea founder passes away.
2. H&M to open first Tasmanian store in 2018.
3. Fashion group, Esprit, expects first half loss.
4. Woolworths to phase out use of pesticides.
5. Myer wins litigation case brought by Chadstone Shopping Centre over lease outgoings.
6. Apple stocks fall as new X phone sales questioned.
7. Cotton On pulls Factorie brand from Malaysia and Singapore.
8. David Jones to open first standalone food store in new luxury Chapel Street complex.
9. Specialty Fashion Group (Katies, Millers, Rivers) up for sale.
10. National furniture chain, The Outdoor Furniture Specialists, go into liquidation.
11. Retail continues to lag behind the broader economy in December.
12. McDonalds posts strong results in fourth quarter.
13. Woolworths new store concept includes hydroponic “pick yourself” lettuce.
14. Godfrey’s earnings decline by 42%.
More Reading:
An interesting article on H&M’s battle with retail uncertainty.
https://www.insideretail.com.au/blog/2018/02/01/mistakes-behind-hms-34-per-cent-profit-plunge/