Australia Retail

Infant retailer Baby Bunting’s new boss warns of impact on spending of the company’s biggest consumers after the company finished below expectations last year.

Retailer Baby Bunting has warned the financial strains experienced by younger parents, especially millennials, whether they rent or have a mortgage is placing pressure on discretionary spending which includes the types of products its sells such as prams, toys, strollers and clothing.

The competition watchdog has approved the acquisition of Australia’s largest energy retailer by international funds giant Brookfield and its consortium partner MidOcean.

While wealth has been increasing, retail spending has trended flat for a year now. That’s despite prices rising, indicating we’re buying less overall, it’s just costing us more. 

Former supermarket boss Bill Wavish, who is seeking a seat on the board of Endeavour Group, has accused the pub and retail giant of a “complete absence of operating cost discipline,” excessive debt and “confusing branding.”

Major shareholder Solomon Lew is happy with the shakeup, as Qantas’ loyalty business boss Olivia Wirth and Ardent Leisure chairman Dr Gary Weiss look to land on the retailer’s board.

Australia’s fastest growing Mexican fast food chain has appointed a retail executive to share the top job with founder Steven Marks.

Ariadne executive director Gary Weiss and Qantas Loyalty chief executive Olivia Wirth have been nominated to join the Myer board as the retailer aims to keep its profit momentum going in the face of a cost of living squeeze.

The fall in the Australian dollar is expected to add to the challenges in retail, by raising costs when households are already tightening their budgets.