One of the country’s largest retail chains, Harvey Norman, says pre-tax profits have almost halved in the September quarter as the cost of living crunch sees households with less money to spend on appliances, TVs, furniture and other gadgets.
The boss of furniture retailer Nick Scali says it will grow its store network for its key retail brands Nick Scali and Plush, but has warned of slowing sales growth in the first quarter as visits to its stores shrink with its half-year profit expected to drop by as much as one third.
Woolworths target Petstock — the nation’s second-largest speciality pet retailer — is proposing to sell 11 of its shops in WA and dozens of other hospitals and stores to satisfy concerns about market dominance.
Customers at some grocery stores in Melbourne are being limited in how much milk they are able to purchase amid concerns of a milk shortage.
Some shoppers were limited to buying two bottles of milk on Wednesday.
It comes as 1400 workers from four major dairy retailers joined 150 dairy transport workers in walking off the job in the fight for better pay.
Retailers called for consumers to stay calm and not to panic buy.
Some retailers said they are concerned the milk shortage could see a return to COVID-era panic buying.
More retailers are offering discounts to shoppers who make purchases with cash. WSJ personal-finance reporter Imani Moise joins host J.R. Whalen to explain how credit-card users can also score deals. Illustration: iStock
Global beauty retailer Sephora is set to open its third WA store but local boss Mark O’Keefe is already eyeing a doubling of its footprint in the State within the next three years.
Australia’s fastest growing Mexican fast food chain has appointed a retail executive to share the top job with founder Steven Marks.