Interest rate cuts and federal government handouts will help retail spending grow at its fastest pace since the 2008-2009 global financial crisis, an independent forecaster says.
Sales at David Jones fell by about three per cent in the three months to April, and the retailer is gearing up for a big end of financial year clearance.
Retail property landlord BWP Trust has increased rents on three of its Bunnings Warehouse properties, including significant jumps for two in Western Australia, highlighting the strength of Perth’s
Shopping centre owner Perron Group has added to its bulging portfolio, snapping up 50 per cent stakes in Morley Galleria, The Glen in Melbourne and Colonnades in Adelaide from Centro Retail Austral
The "bully boy tactics" of Coles and Woolworths are threatening the future of Australian food production, Australian Workers' Union boss Paul Howes says.
The success of a $200 million class action case against the property group Centro Retail Australia is a win for all Australian investors, lawyers for the shareholders say.
Harvey Norman says its pre-tax profit for the first nine months of the financial year is down 25 per cent, as sales continued to fall in the three months March.
Construction has commenced on the $440 million redevelopment of Perth’s waterfront, with Georgiou Group picking up a $50 million contract for early works.
Wesfarmers says Coles sales has risen almost five per cent in the third quarter but tough trading conditions led to a 4.4 per cent fall in Target sales.
Woolworths says higher third quarter sales volumes were offset by lower prices, leaving shoppers as the big winners as the supermarket seeks to woo more customers than arch rival Coles.
Retail spending rose for the eighth straight month in March as consumers overcame a lack of confidence in the economy and spent more of their money on services such as entertainment.
Shopping centre owner Centro Retail Australia is in discussions with investors regarding the sale of 50 per cent stakes in three of its shopping centres, including Morley's Galleria.