Latest Retail News – 1/9/2013
1. Retailers angry at decision to increase apprentices pay by up to 30%.
2. Noni B profits slashed by half due largely to reduced margins.
3. Specialty Fashion Group (Millers, Katies etc.) back into profit for range of reasons including lower rent.
4. Luxury brand, Tiffany & Co, to open first store in South Australia.
5. Flight Centre records 9% increase in revenue with improved margins.
6. Intersport brand returns to Australia as 70 independent sports stores re-branded.
7. Billabong suffers $860 million profit drop following major brand write down.
8. Myer completes internal management review as it prepares for Bernie Brooks retirement next year.
9. US consumer confidence inches closer to 5 year high.
10. Independent Retailers of Australia (ARA etc.) rally against Coles/Woolworths cross subsidising fuel.
11. Owner of Ksubi fashion brand enters administration.
12. Woolworths lifts full year profit almost 25% following strong supermarket performance.
13. Country Road continues to benefit from purchase of Witchery and Mimco.
14. Swedish retailer, H&M, opens 4th store in Malaysia.
15. Woolworths allowed to buy 3 IGA stores.