Australia’s largest shopping mall group, the Westfield mall owner Scentre Group is looking at a sharp fall in June 30 half-year earnings and will slash the value of its 42 shopping centres across Australia and New Zealand by around 10% or about $3.8 billion thanks to the impact of the COVID-19 pandemic.
Read More
Retail sales growth will not be as good as we saw in May and June for quite a while as Victoria locks down most of its retailers in an effort to control community transmission of the COVID-19 virus.
Read More
The volatility in retail sales data slowed dramatically in June, according to the mid-month update from the Australian Bureau of Statistics.
Read More
Retail sales might have jumped sharply in May, as expected after the strong preliminary report last month from the Australian Bureau of Statistics but for the first five months of 2020, the situation was a very different story.
Read More
NZ-based Outdoors retailer Kathmandu looks like reporting a 30% fall in profits for the year to July and is not confident at all about prospects in the 2020-21 financial year starting August 1.
Read More
First Kogan.com now Temple and Webster, the other major listed sole online homewares and furniture retailer will look to raise new capital from shareholders to help bolster its digital offering after the surge in sales earlier in the year during depths of the coronavirus lockdown, continued in June.
Read MoreTemple & Webster is solely online (like another boom-story, Kogan.com) and had already seen a big surge in sales (and positive earnings) before COVID-19 hit and that has continued, at a higher pace. Yesterday the online homewares and furniture retailer said it had nearly doubled its sales during the coronavirus lockdown.
Read More
A strong boost to sales is expected for key business units of Super Retail from a resurgence in domestic travel. Moreover, market concerns regarding the company’s balance sheet should be put to rest now with the company undertaking a $203m capital raising
Read More
Outdoor, sportswear, and car parts group, Super Retail Group plans to raise $203 million to help grow its business as it emerges into a post-COVID-19 lockdown world.
Read More
Another strong sales report from JB Hi Fi (and its Good Guys offshoot) to go with its surprisingly solid March quarter figures. As a result of the better than expected report the company has reinstated and upped its full-year guidance.
Read More
Harvey Norman (HVN) shares jumped sharply yesterday after the electronics, whitegoods and furniture retailer revealed a special dividend for shareholders after reporting five months of booming sales during the coronavirus lockdown.
Read More
Sales activity at Bunnings and Officeworks has been stunning over the period of pandemic-related restrictions but signals there is very little operating leverage for Wesfarmers going forward.
Read More
Realism from a major US department store chain about when life for it (and most retailers) will be back to pre-COVID-19 ’normal’. In an interview after releasing the barebones of its March quarter figures, Macy’s warned that its business was not likely to return to normal until late 2021.
Read More
The strains in retailing caused by the COVID-19 pandemic slamming retail sales in April and May has seen Vicinity Centres, one of the biggest shopping mall operators in the country heading for a $2 billion-plus loss for the final six months of its June 30 financial year in what will be the start of a round of huge write-downs for the sector.
Read More
While department store operator, Myer is re-opening most of its stores this week, and yet rival David Jones is looking to close many of its 48 outlets across the country. It’s not that Myer is a financial or sales success story, far from it but judging from the trading update yesterday in South Africa from parent, Woolworths Holdings, David Jones’s is slip-sliding its way deeper into trouble.
Read More
Shares in women’s fashionwear group, City Chic Collective surged more than 15% yesterday on a strong trading update for its online business.
Read MoreFollowing 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 More
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 More
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 More
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 MoreAs 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 MoreOutdoor 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 More
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 More
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 More
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 More
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 More
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 More
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 More
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 More
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 More
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 MoreAs 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 MoreThe 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 More
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 MoreOn 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 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 More
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 MoreSanta didn’t stop at Australian retailers in December 2019 and where he paused, shoppers were not very enthusiastic.
Read MoreAmid 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 More
