Reece forecasts further ‘softness’ in the building and renovation markets over the coming year
Australians’ love affair with their home has been unshakeable, with property owners usually willing to upgrade, detonate and renovate even during financial downturns.
But according to major plumbing and bathroom products supplier Reece, that is now being tested.
Continue reading...Annual results underline fears cost-of-living pressures will limit spending – including on side tables and lamps – so much that the economy will shift into reverse
What do sales of six-seat modular sofas and matching buffet tables tell us about the financial health of households and the broader economy? Quite a lot, it turns out. And, according to market professionals, it does not look good.
Annual profit at Sydney-headquartered furniture retailer Nick Scali fell almost 20%, according to results released on Friday. Crucially, sales order growth for the past two months has turned negative, down 1.2% from the prior year.
Continue reading...Retail company to vacate premises at the Myer Centre it opened in 1988 after talks broke down with landlord over new lease
Myer will close its flagship Queensland store in Brisbane’s Queen Street mall after more than three decades.
The retail company says it will vacate its five-floor store in the Myer Centre days after posting a 24% jump in half-yearly sales.
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Continue reading...Covid shutdowns of major international ports are putting extreme pressure on retailers to fill orders and keep shelves stocked
Australians have been warned not to leave their Christmas shopping until the last minute with the global supply chain crisis leaving retailers struggling to fill orders and keep shelves stocked.
The “dramatically bad” global supply chain situation in Asia could also see major Australian retailers dumping Black Friday sales as they are left with limited stock.
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