Sunday 14 August 2011

Retail News of the Week 12/08/2011

1.       Masters Home Improvement Stores (the joint venture between Woolworths and US based Lowes) has ramped up its competition with Bunnings by announcing that its stores will house McDonald’s restaurants. The first Masters store will open in Braybrook in September.
2.       JB HiFi announce a record profit (up 13.3%) with a slight dip in same store sales but remain one of the current standouts in retail store performance.
3.       Toy giant Mattel has been ordered to pay rival US$300 million in Bratz copy case.
4.       Westfield Shopping Centre Group has announced a dividend to shareholders in line with expectations. Retailers may be struggling, but their landlords appear to be going OK. Surprise, surprise!
5.       83% of retailers expect that consumers will spend less as a result of the carbon tax.
6.       Domino’s Pizza Stores have announced a 20% lift in profit for the year as they continue to roll out stores.
7.       Harvey Norman has killed off the Clive Peeters brand saying it is too damaged. Stores will be re-badged as Harvey Norman or shut down.
8.       David Jones has announced a 10.3% slump in sales for the May/July quarter.
9.       Webjet announce a record profit as our multi-speed economy shows Australians consumers are still prepared to spend on travel.