SHORT BITS:
1. Topshop UK parent company rallies to support Australian arm.
2. Toys’R’Us to open 4 new stores in Australia.
3. Tiffany & Co boosts second quarter results.
4. H&M launches new Arket brand in London and online, catering for fashion and home goods.
5. Specialty Fashion Groups older brands (Rivers, Millers, Katies) drag on performance.
6. Billabong hopes to recover from massive loss.
7. Luxury jewellery retailer, Secrets, opens flagship store at Brisbane’s Chermside centre.
8. Dominos trialling self driving cars for pizza delivery.
9. Myer links with Amazon to offer Kindle electronic products.
10. Harvey Norman reports 29% jump in profits with pleasing overseas results.
11. Tommy Hilfiger opens new store at Westfield Parramatta.
LONGER BITS:
Coles And Uber – are reported to be trialling a home delivery service in Melbourne to supplement Coles fleet of home delivery trucks. Gaining economies in the “last mile” of customer delivery is proving to be an issue for retailers worldwide.
Zara’s Secret – an article on Forbes.com points out that clothing retailer, Zara, presents new product ranges 26 times per year. The anticipation by customers that there is always something new, and they need to get in before things change, is creating the long checkout queues at this retailer.
Another Struggling Retail Group - Millers, Katies and Rivers owner Specialty Fashion has almost quadrupled its full-year loss to $8.39 million, from last year's $2.19 million, amid subdued consumer spending.
Tourism Booms – retailing might be struggling but the influx of tourists to Australia was up 9.1% in the year to June 2017 with visitors from China showing the strongest growth. See the full analysis here - https://www.austrade.gov.au/news/economic-analysis/tourism-success-inbound-tourist-number-exceeded-8-5-million-in-2016-17-and-expenditure-reached-a-40-billion
Westfield Expands Its Retail Mix – Westfield have introduced over 100 new retailers to their shopping centres with an emphasis on smaller neighbourhood type operations mainly in food, dining and beverage categories. As department stores lose their footprint, the gap in leasing space is being filled with food and entertainment. High quality food in a grab-and-go format, often at restaurant prices, is becoming a trend for major centres.
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