Latest Retail News – 2/2/2020
1. A Sydney Dan Murphy store sells a 72 year old bottle of whiskey for $150,000.
2. David Jones same store sales slip, but online up 61%.
3. Treasury Wine Estates (Penfolds etc.) cuts guidance.
4. Australian CEO’s pessimistic about business prospects even before bushfires hit.
5. Industry groups want banks to make tap’n’go cheaper.
6. Aussie brewer releases hemp beer.
7. Booktopia buys Co-op Book business.
8. Greenlit Brands (Fantastic Furniture, Freedom, Snooze) reports $287m loss in 2019.
Articles Worth A Read:
(Caution- some of these articles paint a fairly sad picture. The article about 2020 being a dismal year also suggests that Australia is unlikely to go into recession. We seem to be experiencing a torrent of bad news right now and maybe time will give us some balance - Ed.)
Nordstrom And Others Introduce Bars To Boost Sales - https://www.seattletimes.com/business/nordstrom-and-other-department-stores-are-betting-on-booze-to-boost-sales/
Five Reasons Why Legacy Retail Won’t Survive This Decade - https://www.forbes.com/sites/andrewbusby/2020/01/26/five-reasons-why-legacy-retail-wont-survive-this-decade/#3bec40834e0d
Ecommerce In The UK Surpassed 25% of Holiday Season Sales - https://www.emarketer.com/content/ecommerce-in-the-uk-surpassed-25-of-retail-sales-during-the-2019-holiday-season-brick-and-mortar-took-a-hit?ecid=NL1016
2020 To Be A Dismal Year For the Australian Economy - https://insideretail.com.au/news/2020-survey-no-lift-in-wage-growth-no-lift-in-economic-growth-and-no-progress-on-unemployment-in-year-of-low-expectations-202001
Retail Isn’t Dying – It’s Just Changing - https://powerretail.com.au/opinion/retail-isnt-dying-its-just-changing/