Sunday 6 March 2016

Latest Retail News – 3/6/2016

Latest Retail News – 3/6/2016
1. Woolworths announces Brad Banducci as new CEO.
2. Wesfarmers completes takeover of UK based home improvement chain, Homebase.
3. Billabong posts first half loss.
4. Hugo Boss CEO takes blame for declining sales in China.
5. Amazon tackles UK super markets on home turf.
6. Grays E-commerce exits fixed price retail strategy.
7. Super Retail Group reports higher profit.
8. Moody’s cuts Woolworths credit rating.
9. Pumpkin Patch expects sharp drop in profit.
10. Australia’s chilled meat exports expected to grow.
11. Wesfarmers unites K-Mart and Target businesses under Guy Rosso.
12. Watchmaker, Omega, to open its flagship store at Sydney’s Martin Place.
13. NZ company buys operator of 42 KFC stores in NSW for $82.4 million.
14. Watchmaker, Seiko, opens first Australian boutique store at Sydney’s Queen Victoria Building.
15. Contactless payment by mobile phones growing fast.

Other News:
Aldi Closes Online Liquor Store – Aldi will be closing its online liquor store 3 years after it was launched as they concentrate on their core supermarket business. Key competitor, Woolworths, has announced that its Dan Murphy’s liquor business has recorded strong double-digit growth in online sales.