Retail

Consumer sentiment has improved slightly, but Australians remain pessimistic about the national economy.

Woolworths is spinning off its $1.4 billion shopping centres portfolio in a move that is expected to free up cash to help fight its price war with rival Coles.

Shares in troubled surf retailer Billabong have dived 18 per cent due to speculation a second private equity firm was considering withdrawing its takeover bid.

Australians are buying more cars and trucks this year with new vehicle sales increasing 9.4 per cent for the first nine months of the year, compared to the same period in 2011.

Harvey Norman chairman Gerry Harvey took a $115,000 pay cut in the 2011/12 financial year after the retailer's profits plunged 32 per cent.

The head of the former Centro Properties Group was paid $3 million in the final five months of the shopping centre owner's operation.

Coles boss Ian McLeod remains the highest paid executive at conglomerate Wesfarmers, despite taking a slight pay cut last financial year.

Woolworths shares have dipped slightly in early trade after it announced the sale of its Dick Smith Electronics chain to a private equity firm for $20 million.

Retail brand owner Premier Investments says it is enjoying great success from its shops in Singapore and plans to push into other Asian markets.

Shares in Billabong have dived after the troubled surfwear retailer said one of two private equity firms interested in taking over the group had withdrawn its offer.

Cautious consumers are keeping their wallets firmly shut and business needs to adapt to this new-found frugality, the Commonwealth Bank of Australia says.

Department store retailer David Jones has reported a 39.9 per cent fall in full year profit.

Car yards sold more new vehicles in August than ever before.

Surfwear brand Rip Curl is investigating approaches to invest in the company from several international organisations.

Supermarket retailer Woolworths insists it has not yet made a decision on whether to sell more of its multi-billion-dollar property portfolio.

Retailers have launched another campaign to have GST charged on internet purchases from overseas, warning that Australian governments would forgo revenue of more than $2.4 billion revenue over the

The City of Fremantle says Myer’s announcement that it will close its port city store early next year provides clarity for the proposed redevelopment of King’s Square.

Myer shares are down by more than three per cent after the department store issued no profit guidance for the year ahead because of the troubled retail environment.

Western Australian shopping centre managers are the most optimistic in the country, tipping sales growth over the next year thanks to relaxed Sunday trading laws and continuing strong economic cond

Consumer confidence has risen slightly, but remains sluggish despite several cash rate cuts and a relatively solid economy, a study has found.

Shares in surfwear retailer Billabong are up by almost eight per cent after the company received a second takeover offer.

Australian fashion retailer Ojay has gone into administration with store closures and job losses predicted.

Retail spending has slumped as shoppers kept away from department stores in big numbers and the effect of government handouts wore off. 

Beleaguered consumer goods retailer Harvey Norman hopes to claw back market share, as tough trading conditions are expected to force many of its competitors to close.

Schools supplier Campion Education has agreed to purchase the stock of one-time market leader Wooldridges, bringing to an end any hopes of reviving the Wooldridges business and delivering a return

Shopping centre owner Centro Retail Australia has posted a $223 million loss, due mainly to costs related to its settlement of a class action.

Industrial hardware and parts supplier Coventry Group has announced a net profit of $19 million for the year ended June 30, lodging a 6 per cent increase in revenue to push it back into the black.

Troubled surfwear retailer Billabong believes it can improve its earnings in fiscal 2013 after reporting a $275.6 million loss for 2011/12.

Automotive Holdings Group says it will be on the look out for more acquisitions in the current year after reporting a hefty jump in full year net profit.

Woolworths shares slipped today after it posted a 15 per cent fall in full year profit because of its exit from the Dick Smith electronics chain.

Cash Converters has posted a six per cent rise in net profit to a record $29.4 million due to strong growth in its personal loans business.

Perth-based car dealer network Automotive Holdings Group is flexing its muscles in Australia’s truck and bus market, announcing a number of acquisitions in NSW and Queensland.