Latest Retail News – 8/03/2020
1. Taco bell to open 7 new stores in Australia this year.
2. Harvey Norman feels the impact of bushfires.
3. Asahi offers to ditch cider and beer brands in order to get CUB deal approved by ACCC.
4. Kathmandu opens first solar powered store.
5. Virus hit tourism retailers to get tax relief in Queensland.
6. Australia Post says Black Friday and Cyber Monday online events grew nearly 32% in 2019.
7. Spotlight to buy Harris Scarfe.
8. Myer halves its Head Office space.
9. Supermarkets report panic buying over Coronavirus fears.
10. Dare iced coffee now comes in sparkling version.
11. Woolworths rations toilet paper.
12. Fashion expert predicts 10% reduction in store display space as sales go online.
13. Myer says future forecasts unknown as profits tumble on Coronavirus.
14. The impact of Coronavirus predicted to be “deeper, wider, and longer” than SARS.
15. Online grocery sales on the rise in recent weeks as shoppers stay home.
16. Motley Fool predicts Coronavirus will hasten exit of sick retailers.
Articles Worth a Read:
Australia In Panic Mode - https://www.abc.net.au/news/2020-03-04/coronavirus-covid-19-outbreak-prompts-warnings-not-to-panic/12024432
Dumped Brands Dismayed At Myer Action - https://www.smh.com.au/lifestyle/fashion/dumped-brands-utter-dismay-as-myer-deserts-luxury-designers-20200306-p547kz.html
Amazon Launches Full Size Supermarket With No Tills - https://www.forbes.com/sites/enriquedans/2020/02/27/amazon-go-grocery-this-is-the-future-of-shopping-whether-we-like-it-ornot/#47464675f6fa