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Archive for the ‘Retail Business News’ Category

Australian Consumer Sentiment shows highest increase in 35 years

August 27th, 2009

Category: Retail Business News

Consumer Sentiment All Time High in Australia Latest data suggests that consumers are feeling more optimistic about the state of the economy and in numbers never measured before. The Westpac-Melbourne Institute has been tracking a metric called the consumer sentiment index. The index is up 27.8 in the last 3 months which is the biggest three-month gain since the survey was started in 1975. “The message is clear – as far as consumers are concerned, the worst of the current downturn appears to have passed,” said Westpac senior e...

Retail Sales for most states and industries rise May 2009

July 7th, 2009

Category: Retail Business News

Australia May 2009 Retail Sales Good The figures for May 2009 Retail Sales have just been calculated by the Australian Bureau of Statistics (ABS) and they seem to be good news. For most industries and in most regions of Australia year on year sales for the month of May 2009 have risen and quite substantially. Most regions rose The news was pretty much the same for most of Australia: More Sales Volume. There was only one region that had a decline and that was a small 0.1% decline in Tasmania. New South Wales and the Northern Territories were fla...

Australian Business Tax Allowance Bill Becomes Law

June 4th, 2009

Category: Retail Business News

Some Businesses have less than 30 days to start contracts! The proposed tax allowance bill that was drafted in February of this year has become law. In a previous article article we discussed the impact this would have on businesses large and small. Originally it was proposed that this would allow be a 30% Tax deduction allowance and the purchase time window would expire June 30th, 2009. For larger businesses the 30% Tax Allowance is the amount of their deduction and they still have to make commitments before June 30th, 2009. But for smaller bu...

Target Retail Stores and South Australia going bagless

May 12th, 2009

Category: Retail Business News

Plastic Bag Ban and your Retail Business In one of the more interesting retail stories recently, the Government of Southern Australia and the large discount chain Target will not give customers free bags to carry purchases home in. This is recent trend where more consideration is given to the ecological impact of plastic bags as people try to limit the use of one-use disposable bags. But it is causing an impact on retail businesses and retail staff and that is what we wish to discuss in this article. Southern Australia was scheduled to ban free...

Reserve Bank of Australia lowers interest rate ¼ Percent

April 7th, 2009

Category: Retail Business News

Reserve Bank of Australia Lowers Interest Rate .25% The Reserve Bank of Australia Tuesday lowered interest rates a further one quarter of a percentage point to a 49-year low. The reason that was given is that the economy is contracting, but at a slower pace than other major economies. Because the current condition is fairly good in Australia it seems a deeper cut was not warranted. Governor Glenn Stevens said in his statement the Reserve Bank of Australia will proceed cautiously in coming months, making small adjustments to interest rates only...

USA Office Supply Retailer Staples sees increase in sales but decrease in profits

March 12th, 2009

Category: Retail Business News

The world’s largest office supply chain, Staples released 4th quarter 2008 results showed a 14 percent drop in profit from the previous year. This comes on an actual increase in overall sales but of less profitable items. The retailer sells a variety of items in it’s retail stores from consumables such as paper, toner cartridges, and ink to infrequent purchase items such as furniture and computers. Mike Miles Staples COO Staples COO Mike Miles states a reason for the reduction in profit: “Demand for furniture and technology remai...

Retailer Woolworth’s to create 7,000 jobs

March 6th, 2009

Category: Retail Business News

Woolworth's Store in Australian Mall In an example of a retail business that is not only surviving but flourishing one does not have to look farther than the local Woolworth’s. Retail giant Woolworths is defying current economic trends, and expects to create 7,000 Australian jobs in the next four months. The supermarket company posted a 10 per cent increase in first-half net profit to $983 million. Sales have risen almost 9 per cent over the last quarter to $26 billion. It has opened 122 new stores in this half-year and completed 190 refu...