Latest industry news from around the web . . .
Australia’s biggest retailers...
Monday, 17 June 2013 11:51 Yolanda Redrup Some of the nation's largest retailers are meeting tomorrow to discuss issues affecting Australian retailers such as the goods and services tax on online imports ... read more
Shopping Centres Australasia buys s...
By Larry Schlesinger Friday, 14 June 2013 The spun-off Woolworths shopping centre portfolio, Shopping Centres Australasia (SCA Property Group) has acquired a portfolio of seven neighbourhood shopping centres in Victoria and Queensland ... read more
Pick right time to target Wesfarmer...
The recent declines in the Wesfarmers share price is creating opportunities for savvy investors. Technical analysis has pinpointed the price that's right for a plunge on the coal-to-Coles conglomerate. Like much ... read more
UK retailers team up with social co...
Retailers including John Lewis , Marks & Spencer and Appliances Online are working with a new social commerce website, Set That. The site, based in Australia, rewards users for compiling ... read more
Super US retail group plans armour-...
US sportswear giant Under Armour (NYSE: UA) has named Australia as one of its key growth markets in its new quest for international expansion. Under Armour was founded by Kevin ... read more
Target cuts 260 jobs in shake-up
Workers at Target headquarters in Geelong have been made redundant. Photo: Jason South Shares in Perth-based conglomerate Wesfarmers touched five-month lows on Wednesday as the company confirmed up to 20 per ... read more
Gloomy retail sales outlook
Shopped out: Only food sales are strong. Photo: Erin JonassonRetailers and landlords have been dealt another blow, with less than half of managers across 173 shopping centres nationwide predicting any ... read more
Retail sales tipped to remain subdu...
RETAIL sales have improved recently but the bounce is unlikely to continue, with a rise in the national jobless rate tipped and ongoing consumer caution. Deloitte Access Economics says the ... read more
Aussies spend up big with local onl...
Photo: Rob Homer More than half of Australians shop online, but we're spending most of that money locally. Some Australian bricks and mortar retailers like to cry foul over the fact that ... read more
Target to axe jobs
Struggling retail chain Target is primed to announce hundreds of job cuts and a possible operational restructure following its profit warning last month, as the Wesfarmers-backed business tries to dig ... read more
Australian Firm Investing in US Ret...
By Francys Vallecillo | June 4, 2013 11:18 AM ET QIC Global Real Estate has paid $435.6 million for a 49 percent stake in eight U.S. malls in a joint venture ... read more
Consumer caution hits stock prices
The resurgence of retail stocks has taken another blow with retail sales continuing to underperform. On Monday, retail sales for April disappointed expectations, rising just 0.2 per cent, seasonally adjusted. The largest ... read more
Billabong wiped out as suitors flee
Billabong hopes to sell assets to pay down debt. Photo: Bloomberg Troubled retailer Billabong is discussing possible debt deals and asset sales with two private equity firms after takeover talks ended. Billabong ... read more
Federation ups forecasts as sales l...
Federation Centres are to finalise a third tranche of shopping centre sales that will take the amount of equity it has raised to about $1.7 billion. Federation’s sale of half stakes ... read more
BB Retail Capital Secures Jindalee ...
BB Retail Capital (BBRC) can confirm it has entered into an unconditional contract to acquire the Jindalee Village Central (JVC) in Brisbane for $10.275 million. The BBRC Jindalee Fund, backed by cornerstone ... read more
Because we’re worth it –...
Mr 90.64 per cent: Shareholders backed Frank Lowy's re-election to the board. Photo: Dominic Lorrimer Westfield Group's founder and non-executive chairman, Frank Lowy, on Wednesday faced a feisty annual meeting where ... read more
Retail in the doldrums, says Westfi...
There has been little improvement in retail conditions so far in 2013, shopping centre owner Westfield Group says. But company chairman Frank Lowy has presented a more upbeat assessment of Westfield's ... read more
Gold Coast’s first ever Target Ou...
The opening of the Gold Coast’s first ever Target Outlet store at Harbour Town this Thursday is expected to continue to boost foot traffic to the popular shopping centre. It follows ... read more
WESTFIELD MIRANDA REDEVELOPMENT TO ...
Westfield Group announced today that they would commence a redevelopment at Westfield Miranda in Sydney’s south with joint venture partners Westfield Retail Trust and DEXUS Wholesale Property Fund. The $435 million ... read more
An end to discounts? Retailers wish
Just as well Paul Zahra is a retailer instead of a banker – otherwise the Australian Competition and Consumer Commission might be wondering if he was attempting a little price ... read more
