DJs, Country Road sales lashed by rate rises
David Jones and fashion stable Country Road Group have revealed a sharp slowdown in sales, blaming rising interest rates and a deterioration in trading conditions.
David Jones and fashion stable Country Road Group have revealed a sharp slowdown in sales, blaming rising interest rates and a deterioration in trading conditions.
Department stores had an “ominous” sales fall in June and food was the only category to report a rise, according to the ABS, as consumers savagely cut spending to lift hopes of a rate pause.
The former online retail high-flyer is heading for its second year of losses as sales fell 30 per cent but Ruslan Kogan says tough measures taken should mean earnings improve over the second half.
The pressure on shoppers’ budgets is increasingly obvious at the checkout, says Coles’ newly appointed customer-focused executive.
The celebrity fund manager is silent on his father, a ‘despicable’ court judgement and an eyebrow-raising real estate deal.
Mosaic Brands’ typically older shoppers kept away from stores through the pandemic but they are now back shopping up a storm undeterred by higher interest rates.
Antoni Martinez says he has ‘ketchup in the veins’ having started at McDonald’s as a teenager. He is now rolling out 100 new stores in its biggest Australian expansion in decades.
The retailer’s plans to buy two major milk factories in NSW and Victoria – a first for the sector – could threaten competition, warns the ACCC.
The average online shopping cart purchase has fallen 6 per cent to $105 compared with this time last year.
Australia’s largest private hospital operator is understood to be considering buying Cura Group.
Original URL: https://www.theaustralian.com.au/author/eli-greenblat/page/47