Retail

The Franchise Council of Australia has criticised planned federal government reforms, claiming there is inconsistency between Small Business Minister Bruce Billson’s stated intentions and draft changes to the franchising code of conduct.

Retail spending is continuing its steady recovery, posting it 10th consecutive monthly rise despite a weak employment outlook.

Franchise groups face fines of up to $51,000 for serious breaches of the Franchising Code of Conduct under draft reforms released today by the federal government.

A major international franchise chain is preparing the ground for an assault on WA’s retail convenience sector.

Industry groups have slammed the Fair Work Commission's ruling that 20-year-old retail workers should be paid adult wage rates, claiming it will destroy young Australians' job prospects.

Shares in grocery wholesaler Metcash have slumped almost 11 per cent after the company downgraded its earnings guidance and announced a $480 million overhaul of its business.

Myer shares have fallen by almost five per cent after a slide in the retailer's half year profit.

David Jones boss Paul Zahra says Myer's $3 billion merger proposal doesn't make sense for his company in its current form.

Retailer David Jones will undertake a thorough assessment of a merger proposal put by rival Myer.

David Jones chief executive Paul Zahra has reversed his decision to resign and will stay on at the retailer.

A federal Liberal MP who called Tony Abbott a liar over the government's refusal to support food processor SPC Ardmona says the company's $70 million deal with Woolworths is a win for people power.

Kresta Holdings chief executive Jules Di Bartolomeo has left the company following a restructure under which the chairman of one of its major shareholders will be appointed as managing director.

Electrical and homewares retailer Harvey Norman has lifted its half year profit by 36 per cent, overcoming a tough retail market to grow sales.

Woolworths has lifted its first half profit 14.5 per cent amid solid sales growth from its core supermarkets business.

Shopping centre giant Westfield Group has suffered a 6.7 per cent slide in its full year profit.

Retail supply is at a premium in the CBD, and several overseas names are set to add to the space race this year.

Myer has again called on rival David Jones to consider a merger between the two department stores.

Coles managing director Ian McLeod is set to move to a senior role with parent company Wesfarmers after six years of overseeing massive growth in the supermarket chain.

Australia's largest car and truck retailer has managed a small rise in half-year profit, as changes in its road transport operations weighed on earnings.

Upmarket retailer David Jones has increased its sales in the three months to January 25 by almost five per cent to $618 million.

The retailers best placed to benefit from a changing marketplace will be those who proactively shape products, services and experiences for and with consumers.

The resignation of David Jones chairman Peter Mason could keep chief executive Paul Zahra in his job and pave the way for merger negotiations with rival Myer.

Australia's consumer watchdog says it would investigate the impact of a potential tie-up of David Jones and Myer on competition if the department store chains decided to pursue a merger.

Woolworths achieved an additional $1.8 billion in sales during the final six months of 2013, as its supermarkets continued to attract more customers.

Australia has posted its eighth consecutive rise in retail spending, a sign that another non-mining sector of the economy is gaining strength.

Department store owner Myer says its proposed merger with rival David Jones would have created a business with more than $5 billion in sales.

Home entertainment retailer JB Hi-Fi's 10 percent profit increase has been welcomed by shareholders, adding more than $90 million to its market value.

Australia's two biggest supermarket chains Woolworths and Coles continue to punch above their weight, cementing their place among the world's top 20 retailers.

Retail sales figures have come in stronger than expected, giving the Reserve Bank of Australia confidence that the current record-low cash rate is supporting economic recovery.

Australians are expected to have spent close to $15 billion shopping online during 2013 and local retailers received most of the benefit.

Wesfarmers has announced its second significant asset sale this month, with the disposal of the Australian and New Zealand underwriting operations of its insurance business to Insurance Australia Group (IAG) for about $1.85 billion.

The days of big shopper docket fuel savings are over after Coles and Woolworths agreed to limit discounts to four cents a litre.