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
The latest UK class action, brought by the retailers, seeks financial compensation for the company’s alleged historical practices. “The most obvious and principal effect is a loss of revenue and profits. Amazon is taking sales away from merchants, having been able to use competitor data to bring to market its own products,” claims Boris Bronfentrinker, … Read more
Major retailer Johnny’s Furniture has gone into administration due to a “significant decline in revenue”. The company had 15 stores in Australia at the height of its more 10-plus years in operation. That has been reduced to eight — four stores in Queensland, three in New South Wales and one in Victoria. Company directors are … Read more
The initial public offer (IPO) of Magenta Lifecare was subscribed over 300 times so far on the third day of the bidding process. The issue closes today. The strong demand was led by retail investors, whose category was booked over 400 times, followed by NII investors, whose portion received a subscription of over 300 times. … Read more
Fancy a sweet treat to get you through to the weekend? Free doughnuts are being given away at locations across Australia on Friday to mark National Doughnut Day. WATCH THE VIDEO ABOVE: How to get a free doughnut on National Doughnut Day. Know the news with the 7NEWS app: Download today Krispy Kreme has 100,000 … Read more
