News Briefs From Retail Sources –
Wesfarmers have bought the iconic Australian brands of Hard Yakka, King Gee, and Stubbies from Pacific Brands for $180m.
Flight Centre’s profit for 2013/14 was $206.9m, down 16%. Flight Centre have announced the purchase of 90% of UK based tour operator, Topdeck Tours.
Global fashion chain Zara has been criticised for a children’s shirt likened to the concentration camp uniform worn by Jewish prisoners. This follows complaints about a T shirt bearing the slogan “White is the new black”. Zara has pulled the shirts and apologised.
The owners of Hobbyco, the Sydney based hobby business that has been operating for 79 years, say they are contemplating the sale of their business. Hobbyco sales are 7% up on an annual basis as they continue to concentrate on the niche market of hobbies rather than the broader category of toys.
Maggie Beer cops ACCC attention – iconic Australian cooking celebrity Maggie Beer has apologised to the ACCC for a misdemeanour in the labelling of her food products. All Maggie’s product labels include the phrase “Barossa Food Tradition”. Apparently a small number of her products are sourced from outside South Australia.