Australian fashion label Sass & Bide is set to shut 10 stores across the country, with multiple jobs to be cut. From October 6, the designer brand will continue to operate at just two standalone locations in Queensland, one in Victoria and another in Western Australia. Stores will close at Bondi, Miranda, Chadstone and Paddington … Read more
Brokerage Bernstein has initiated coverage on seven retail and restaurant companies — Avenue Supermarts, Trent, Aditya Birla Fashion & Retail, Jubilant FoodWorks, Westlife Foodworld, Devyani International and Sapphire Foods India. The firm has ‘outperform’ rating on Avenue Supermarts, Trent, Jubilant FoodWorks and Devyani and ‘underweight’ on Aditya Birla and Westlife World. Bernstein said that as … Read more
New Delhi: India’s July retail inflation slowed to 3.54%, its lowest in nearly five years, on the back of a sharp decline in food inflation, data released Monday showed. Economists struck a note of caution, pointing out that the drop was largely due to the base effect of high inflation last year and that it … Read more
Amazon failed to adequately alert more than 300,000 customers to serious risks—including death and electrocution—that US Consumer Product Safety Commission (CPSC) testing found with more than 400,000 products that third parties sold on its platform. The CPSC unanimously voted to hold Amazon legally responsible for third-party sellers’ defective products. Now, Amazon must make a CPSC-approved … Read more
Tata Group’s retail firm Trent and state-owned defense giant Bharat Electronics are likely to find place in the Nifty 50 index in the September reshuffle, according to brokerage IDBI Capital. LTI Mindtree and Divi’s Laboratories are expected to be excluded from the index, it said. Trent shares have surged 84% so far this year compared … Read more
Retail giant Kmart will enforce a receipt requirement for “change of mind” refunds in Australian stores from August 1. Customers have previously been able to have those refunds processed simply by proving their identity, but a stronger enforcement of the nationwide policy will require customers to hold on to their proof of purchase. Proof of … Read more
Home Bargains has been hit with backlash from some shoppers over a recent Instagram post. The budget retailer is known for selling a huge range of items – from homeware and toiletries to DIY tools and food. However, one of its latest products has left many divided on social media. Despite it being July, with … Read more
Australian online bookseller Booktopia has appointed voluntary administrators, just over two weeks after it ceased trading on the stock market. “The administrators are undertaking an urgent assessment of Booktopia’s business while options for its sale and/or recapitalisation are explored,” Booktopia Group Limited said in a statement to the Australian Securities Exchange (ASX) on Wednesday. Keith … Read more
Sales season has come early at retail giant Myer, with the department store chain unveiling an ambitious plan to acquire clothing brands Just Jeans, Jay Jays, Portmans, Jacqui E and Dotti. The non-binding, indicative and conditional offer for Premier Investments’ Apparel Brands, announced on Monday, would result in Myer taking full ownership of the labels … Read more
Australian online bookseller Booktopia has ceased trading on the stock market, with the future of the popular retailer uncertain. On Monday the company notified the Australian Securities Exchange (ASX) that it would be suspending its stock from quotation “immediately …. pending the release of an announcement”. It said the announcement was regarding further outcomes from … Read more
