1. McDonalds replaces CEO following poor sales results.
2. Alibaba profits took a tumble in 3 months to December.
3. H&M looks to global expansion.
4. Tesco looks to close 43 unprofitable stores.
5. Furniture chain, Dare Gallery, sold.
6. Australian sushi chain, Wasabi Warriors, opens first international store in Hong Kong.
US Consumer Confidence soars. The US Conference Board has reported that the consumer confidence index has jumped to 102.9 following a rise to 93.1 in December. According to the Board “Consumers expressed a considerably higher degree of optimism regarding the short term outlook for the economy and labour market, as well as their earnings.”
David Jones is reported to be planning more private labels into its range. These will be sourced from DJ’s new parent owner, Woolworths Holdings South Africa, and may include some Country Road Group brands (also owned by Woolworths).
Kogan moves into groceries. Online retailer, Kogan, has launched a new grocery delivery service with more than 600 products across a variety of categories and including some household brands including Dove, Palmolive, Pringles and Powerade.