Latest Retail News – 5/8/2018
1. Oroton gets approval to sell its shares for nil and ensure ongoing operation.
2. Pure online retailers still battle for consumer trust.
3. Dan Murphys launches niche online liquor offer allowing suppliers to broaden their offer.
4. Coles flips then flops then flips again on recyclable bags.
5. 7-Eleven offers reusable coffee cups.
6. Victoria replaces NSW as the top performing economy in Australia.
7. Drive through click and collect is key feature of Woolworths next generation stores.
8. Zumbo’s dessert chain falls into administration.
9. Food delivery service, Foodora, exits Australian market.
10. Apple the first corporation to reach $1trillion value.
11. Ralph Lauren turns around its fortunes based on sales in Asia.
June Retail Sales Show Promise – June sales were up 0.4% which was slightly higher than expected. Food and Supermarkets mirrored that rise while clothing reacted to chilly weather with a boost (+3.2%) but department stores were down once again (-1.2%).
Adriano Zumbo’s celebrity pastry business has fallen victim to excessive debt with his eight confectionary and pastry shops put under administration.
Surprise surge in June exports gives Australia its best balance of trade in 12 months.
Article looks at the death of the wholesaler – an interesting article that many market traders will relate to –