Latest Retail News – 3/6/2018
1. Campbells Soups CEO resigns after disastrous performance.
2. Nordstom reports better than expected quarterly result with online sales up 18%.
3. Australian arm of Toys’R’Us falls into administration.
4. Myer signs up cosmetic brand Face Halo.
5. Chadstone Shopping Centre joins the top 5 shopping centres in the world with $2billion sales in a 12 months period.
6. Online shopping on the couch is a substitute for TV for many consumers.
7. David Jones cost-cutting re-structure sees departure of Chief Executive.
8. Country Roads new concept goes local.
9. NSW based shoe retailer, Shoe Box, goes into liquidation.
10. Woolworths continues to lead fresh food segment.
11. Marks & Spencer to close 100 stores.
12. Myers figures to end April show continued decline.
13. Myer hires ex Sears executive as Chief Merchandising Officer.
14. Revlon appoints first female CEO.
15. Australia Post opens new Sydney store dedicated to exporting health beauty and baby products to China.
16. Wesfarmers loses $350-400m as it exits its disastrous Bunnings UK venture.
17. Saks Fifth Avenue breaks the rule and moves its beauty and cosmetics department from ground to first floor with a whole lot of new beauty services.
18. Retail Food Group (Gloria Jean etc.) appoints new CEO to turn around fortunes.
19. Australian retailers expected to clear over supply of winter stock following long summer.
20. Most Americans are not interested in buying groceries online.
21. Australians spent 18.7% more online in 2017 and more than 80% went to local retailers.
22. Amazon to stop shipping to Australia from US in apparent support for their local arm.
23. Calvin Klein, Tommy Hilfiger group reports strong quarter.