Retail

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.

David Jones has unveiled another set of falling sales figures, but the troubled department store says it sees signs of improvement.

Window furnishings manufacturer and retailer Kresta Holdings has appointed fomer QBE executive Giuliano Di Bartolomeo as its new chief executive.

Shares in Pacific Brands have dived by more than five per cent after the troubled clothing maker unveiled a blowout in full-year losses and announced its boss will leave.

Shopping centre operator Westfield Group won't say whether or not it will cut the size of its workforce by up to 10 per cent.

Australian businesses are experiencing another decline in retail spending as fickle consumers hold on to their money after two months of opening their wallets.

Myer chief executive Bernie Brookes says the traditional big retailers will overcome their reluctance to adapt to the internet by becoming the top 10 shopping sites within five years.

A range of positive factors, including solid wage growth, has failed to lift the mood of consumers.

Westfield has lifted its first half profit by nearly a third and says it will boost investment in its better-performing Australian shopping centres to drive earnings further.

Westfield has confirmed it is in talks with financial services group AMP about a possible split of the multi-billion dollar shopping centres they own and manage.