Clicks & Mortar Boost City Chic Collective Shares
Shares in women’s fashionwear group, City Chic Collective surged more than 15% yesterday on a strong trading update for its online business.
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ABS Confirms Retail Sales Carnage
Following a record 17.9% slide in retail sales for the month of April the final quarter of the June 30 year will be a rough one for Australia’s retailers.
Read MoreUS Retailers Set For Earnings Test In Wake Of JC Penney Collapse
A massive week for the US retail sector ahead with most majors – and a few middle rankers – due to report their March quarter figures. Judging by the retail sales data for March – a slide of 8.3% – the reports won’t be healthy – except for giants like Target and especially Walmart.
Read MoreShaver Shop Shares Jump On DIY Grooming Boom
Another rare winner from the COVID-19 crisis was confirmed yesterday – The Shaver Shop said it saw a massive 387% boost in online sales since the start of April, sending shares soaring 36%.
Read MoreReopening Plans Overshadow Red Ink At Mosaic Brands
For all the optimism about the way some retailers are riding out the COVID-19 storm, yesterday Mosaic Brands provided us with a timely reminder from one of the hardest-hit sectors – clothing – about the deep damage done so far.
Read MoreRecord Sales But Fortunes Diverge For Retailers
As expected retail sales were strong in March, despite the rapid spread of lockdowns designed to slow the COVID-19 pandemic but they ended up stronger than the first estimate issued a couple of weeks ago by the Australian Bureau of Statistics.
Read MoreKathmandu Steps Up Plan To Reopen Stores
Outdoor wear retailer Kathmandu has stepped up the re-opening of outlets as its online sales continue to ban. The group has been slowly re-opening outlets in Australia and now wants to accelerate the pace to where most of its stores in Australia will be open and trading by the end of this week as the COVID-19 restrictions are eased.
Read MoreAdairs Set To Reopen, Turbulence Yet To Clear At Flight Centre
Fabric and home crafts chain, Adairs has ruled out the need for a capital raising and will start to slowly reopen stores from this Thursday after reporting a 37% drop in total sales during its store closures over the past 5 weeks.
Read MoreWhat Can Wesfarmers Do With Target?
What can Wesfarmers do with its underperforming chain, Target? Brokers suggest the laggard of the group may be in line for a severe reassessment.
Read MoreWesfarmers Set To Shake Up “Unsatisfactory” Target
Wesfarmers says it will fast track its review of struggling department store Target in the wake of a sharp fall in sales through the retailer so far in April.
Read MoreRetail Sales Surge On Panic Buying
A rush to stockpile groceries and office supplies ahead of looming COVID-19 lockdown measures pushed retail turnover up by a monthly record of 8.2% in March.
Read MoreOn Sale: Kathmandu Unveils Deeply Discounted Raising
Kathmandu (KMD) seems to have struck a snag with Briscoe Group, the largest shareholder deciding not to participate in the outdoor wear retailer’s emergency $NZ207 ($A201 million) capital raising.
Read MoreMore Retail Pain As Myer Leads Slew Of Shutdowns
More retailers have closed their doors to limit the impact of the COVID-19 virus. Myer is standing down 10,000 staff straight away, Kathmandu is closing 170 outlets while South African controlled – David Jones is shutting 280 of its fashion brand stores including Country Road, Witchery, Mimco, and Politix.
Read MoreMosaic & Star Stand Down Staff, Wesfarmers Shutters Kmart NZ
Major women’s fashionwear retailer Mosaic Brands has become the latest chain operator to shut stores and stand down staff indefinitely. Casino operator, Star Group has also stood down around 90% of its staff of 9,000 while Wesfarmers has shut its Kmart stores in New Zealand as the coronavirus outbreak continues to escalate.
Read MoreVirus Damage: Michael Hill Closes, Woolies Postpones Drinks Demerger, Retail Food Drops Guidance
Jewelry chain, Michael Hill has become the first major Australian retailer to close its doors in light of the coronavirus pandemic, meaning the jobs of thousands of workers are at risk. Meanwhile, Woolworths has postponed its drinks demerger, Retail Food Group has dropped its guidance as has Shaver Shop.
Read MoreEarly Data Shows Panic Buying Turning Around Retail Sales
Investors have paid no heed to partial figures from the ABS yesterday showing a 0.4% rise in seasonally adjusted retail sales in February. The rise came from the supermarket sector as other parts of retail, particularly associated with tourism or hospitality, are likely to plummet.
Read MoreNo Sale: Retail Numbers Turn Negative In January
As widely expected Australian retail sales fell in January, while December’s drop was deepened in a revision – all pointing to the worsening dip in consumer spending that is sure to continue for months to come.
Read MoreMyer Struggles To Find A Real Growth Strategy
The retailer reported a 37% slide in first-half profit, thanks to more restructuring costs, redundancies and the loss of two major branded product lines in Apple and Country Road. There’s again no dividend to encourage shareholders.
Read MoreSpotlight Wins Battle To Save Harris Scarfe
Last week it was failed Jeanswest being saved by Hong Kong-based investors, yesterday it was collapsed discount department store Harris Scarfe that is being taken over (subject to some final details being sorted out) by Australian investors.
Read MoreHarvey Norman Shares Hit 11-Year Low Amid “Subdued Retail Sentiment”
On the last day of the 2019-20 interim reporting season, the retailer reported a fall in pre-tax profits due to weaker local sales and higher support payments to its almost 200 franchisees. Weak as that was, the outlook for the current year is even more alarming.
Read MoreSuper Retail Holds Dividend, Adds To Underpayments Bill
Super Retail Group has become the third major retailer to announce staff underpayments this week, revealing on Thursday it has underpaid store managers and team members by $12.6 million more than it originally estimated.
Read MoreInvestors Hope The Worst Is Behind Nick Scali
Shares in Nick Scali shares jumped more than 13% at one stage yesterday after the company beat its underlying first-half profit guidance, but its net result fell noticeably short.
Read MoreNovember Boom Cannibalises December Retail Sales
Santa didn’t stop at Australian retailers in December 2019 and where he paused, shoppers were not very enthusiastic.
Read MoreTemple & Webster Shares In Style After Strong Half
Amid all the downgrades, closures and job losses a good news story from retailing – online furniture and homewares retailer, Temple and Webster has seen its shares surge after reporting a strong result for the half-year period despite those concerns of a weak Christmas period.
Read MoreKaufland Exit Sparks Rally In Coles, Woolies Shares
No wonder shares in Coles and Woolworths soared to record highs late yesterday – a major potential rival from Germany has quit before it got around to opening a store in this country.
Read MoreSuper Retail Counts Cost of Bushfires And Drought
Super Retail – which owns Supercheap Auto, Rebel Sport, Boating Camping Fishing (BCF) and Macpac – says first-half trading had been subdued, with sales in its outdoor goods divisions directly hit by bushfires and smoke haze concerns and it is looking at a fall in earnings before interest and tax of up to 9% for the six months to December.
Read MoreOff Target Earnings Undermine US Growth Story
This could be bad news for US economic growth and the 4th quarter earnings season. After highflying for 2019, America’s second-biggest retailer, Target was supposed to cap a stellar year with a solid sales performance in the usually buoyant holiday season.
Read MoreJeanswest Joins Growing Retail Scrapheap
Denim specialist, Jeanswest has joined the list of retail victims with KPMG appointed as voluntary administrators of the retailer’s Australian operations. The collapse takes the list of failures in Australian retailing in the past year to more than one a month.
Read MoreXmas 2019 Shopping Season ‘Particularly Weak’
Early data signals the critical Christmas shopping season of 2019 was subdued and, given the devastation from Australia’s widespread bushfires, weakness is likely to continue into January.
Read MoreHarris Scarfe Collapse Provides Another Warning For Retailers
Harris Scarfe joins a growing list of bricks and mortar and online retail that have failed this year. The failure could also be a warning bell for other retailers, especially among the shrinking number of department store chains like Kmart, Myer, Big W, David Jones, and Target.
Read MoreFlat Retail Sales Provide More Cause For Concern
A day after the unimpressive September quarter national accounts showed Australians had closed their wallets in Q3, the first reading of consumer activity in Q4 showed no change.
Read MoreRetail’s Bad Week
It’s been a bad week for retail alright, what with Topshop Australia going broke and word that Amazon is looking to open here earlier than expected, and is already chatting to grocery suppliers.
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