Latest Retail News -1/3/2013
1. Woolworths first half profit up 19% following sale of Dick Smith Electronics. Still a healthy 5.5% up when when one-off gains excluded.
2. Harvey Norman records 36.5% first half profit drop after devaluing property holdings.
3. Shopping centre developer Westfield records 18% boost in full year profit largely from global operations.
4. New Yahoo CEO goes against industry trends and bans employees working from home.
5. Sydney, Brisbane, and Perth feature in list of worlds 10 most expensive warehouse rental markets.
6. Danish toy maker Lego records 25% sales boost following introduction of new range for girls.
7. Shares in Billabong tumble following $537 million loss for first half.
8. RCG Corporation (The Athletes Foot) shuts down its 9 store Shoe Superstore division.
9. Major shopfitter, ONE Group, goes into liquidation.
10. Ratings agency Moody's has downgraded the UK from AAA to AA1.
11. Iconic magazine publisher, Readers Digest, files for bankruptcy.
12. Wesfarmers report 9.3% increase in first half earnings with Coles the star contributor.
13. Shopping centre owner, GPT, records more than 140% profit increase after shifting portfolio into offices, logistics and business parks.
14. Pacific Brands (Bonds, Berlei, Jockey) returns to profit.
15. Freedom Furniture moves sofa manufacturing off shore.
16. Shopping centre group, Charter Hall, returns to profit as it concentrates on Australian centres anchored by Coles or Woolworths.
17. Tiffany’s sue Costco for allegedly selling counterfeit Tiffany rings.
18. Shoe and sportswear manufacturer, Puma, reports 70% profit drop after 2012 re-structure.
19. Coles trials new mobile payment system using Mastercard Mobile Wallet.
20. Specialty Fashion Group attributes profit improvement to online sales.
21. Reject Shop records 21% profit increase helped by new store openings.
22. CBA reports 1.9% retail spending increase in January.
23. Google expected to roll out its own retail stores in 2013.
24. US icon, Abercrombie & Fitch, reports increased profit with online sales substituting for declining shop sales.
25. Ibisworld expects retail homewares sales to improve after 3 years of decline.
26. Jetset Travelworld reports 22% profit drop while competitor, Flight Centre, reports 13% rise.