The Retail Week In Brief: 22/07/11
1. Fashion chain Bettina Liano have gone into administration. The brand established in 1984 was distributed throughout Australia, New Zealand, Indonesia and Malaysia. Its seven stores in Australia will continue normally while administrators evaluate the business.
2. Aldi complains of growth restrictions. Aldi's new MD has criticised Australia's planning laws, saying the lack of suitably zoned sites has made it difficult for the supermarket chain to expand.
3. NAB reports business confidence softening. The recent NAB monthly business survey reported that while business conditions improved by two points to plus two, business confidence fell by 6 points to rest at zero.
4. BodyShop and Ikea are two high profile retailers who support the government’s carbon tax proposal.
5. David Jones have confirmed an expected 11% drop in profit due to “dramatic and rapid deterioration in trading conditions in 4Q11”.
6. End Of Financial Year Sales at Myer and David Jones have extended well into July as retailers battle to excite customers.
7. Spencer Street Fashion Station (previously a DFO outlet) has been placed in receivership.
8. Borders Close – It’s all over for Border’s worldwide operations as 399 stores close without a rescue bidder in sight.
9. Apple reported profit figures equating to $3.2 million every hour.
10. Costco opened its second Australian store in Sydney this week and opens its third in Canberra next week.
11. Radio Rentals have announced store rollouts as they benefit from tough times with increased customer patronage.
12. Woolworths posts a 4.2% sales rise in “a very challenging year”.