Retail Industry News - BusinessDay.co.nz

Retail

Kirkcaldie & Stains asked to sell

Iconic Wellington store Kirkcaldie & Stains reveals it has been approached about selling store.

Wages 'rising faster' than food prices

The cost of the weekly grocery shop is soaring – but the Government says wages are rising faster than prices.

61 staff lose jobs as Colorado stores close

Some 61 NZ staff are among the 1042 people set to lose their jobs as 140 outlets in the Colorado clothing group are closed.

Growth won't happen overnight, says slimmer PGC

Business update: PGC chairman Bruce Irvine, left, addresses shareholders at a special meeting in Christchurch on Wednesday.

Shareholders have been warned not to expect the remaining Pyne Gould Corporation business to be an "overnight success".

Fonterra mulls new milk plant

MARK HOTTON - © Fairfax NZ News

Fonterra will need to build a new milk processing dryer in Southland before the end of the decade, with its Edendale plant forecast to reach capacity next season.

In-receivership Colorado to honour gift vouchers

NZPA

Gift vouchers and lay-bys will be honoured by Colorado stores which were placed in receivership this week.

Women's clothing competition hits Hallenstein Glasson profits

Clothing retailer Hallenstein Glasson Holdings has been battered by stiff competition in the women's clothing market both at home and in Australia.

Sales stay sluggish despite pre-GST bargains

BY CLARE MCENTEE - © Fairfax NZ News

The predicted GST-driven spending boom and bust has failed to eventuate.

Smiths City Group cautious on future

BY BEN HEATHER - © Fairfax NZ News

The prolonged and unpredictable economic recovery has impacted on big-ticket retail, with about 60 stores closing, Smiths City Group chairman Craig Boyce says.

Pumpkin Patch has new brand

Pumpkin Patch will launch its new childrenswear range with the opening of a Charlie&Me store at the Westfield Pakuranga shopping mall in Auckland on Saturday.

JB Hi-Fi plans to open more stores

Australian electronics chain JB Hi-Fi lifted same-store sales in New Zealand more than 13 per cent in the past year, and despite a continuing loss on this side of the Tasman, it plans to open three more stores.

Optometrist wholesaler in receivership

New Zealand's biggest locally owned optometrist wholesaler has been placed in receivership, following increased competition at home and a failed push into Australia.

Core retail sectors remain weak

BARGAIN HUNTERS: Wellington department store Kirkcaldie & Stains expects a good winter sale as customers look for good deals.

Higher car sales jump-started a small rise in overall retail spending in May, but outside the still-recovering car market, retailers are struggling to find a spark in sales without offering a bargain.

Shop queen Jan Cameron's plans unclear

The intentions of retail queen Jan Cameron in taking a higher stake in Christchurch's listed Postie Plus Group remain unclear.

Retailers expect big-ticket splurge before October 1

Shoppers are expected to splurge on big-ticket items before the October 1 GST rise.

>>Full coverage

Downloads depress Red Sheds

Weak demand for music, DVDs and winter items has depressed third-quarter sales for the Warehouse Group, which reiterated its forecast for no growth in full-year earnings.

Savvy shoppers saving - survey

Christchurch shoppers are wising up to big supermarkets "raking it in", looking for better deals at smaller specialist food stores, a new study says.

KFC boosts Restaurant Brands profit

Restaurant Brands is reporting full year net profit, excluding non-trading items, up 70 percent to $19.9 million.

42 Below founders behind new IPO

The founders of New Zealand vodka company 42 Below are providing NZX with its first listing of 2010 with the float of home fragrance business Ecoya.

Special agent heads Mitre 10 Plan

BY NICK CHURCHOUSE - © Fairfax NZ News

Former FBI special agent and Home Depot executive John Hartmann is now heading Mitre 10.

Kathmandu bucks sales trends

WALKING OUT: More domestic holidays have helped the outdoor stores' popularity.

BY BEN HEATHER - © Fairfax NZ News

Outdoor gear retailer Kathmandu's first results as a listed company show earnings before tax increased by almost 50 per cent in the half year to January 31, despite difficult trading conditions for many retailers.

Mahu baby care range in supermarkets

BY NICOLA BOYES - © Fairfax NZ News

Hamilton baby skincare company Mahu has grown up, signing with Progressive Enterprises to supply its core range to supermarkets throughout New Zealand.

Independent store's staying power no mean feat

HAPPY FEET: Paul and Julie Gubb of Gubbs Shoes keep their prices sharp, sacrificing bigger margins to keep customers happy.

BY CLAIRE MCENTEE - © Fairfax NZ News

It may not stock them on its shelves, but Gubb's Shoe Fashions is tough as old boots.

Shoppers curtail spending in February

Consumers are keeping their wallets on a tight leash with a subdued recovery in household spending, which is more gradual than economists had expected after last year's recession.

Retail sales on cards flat

BY JAMES WEIR - © Fairfax NZ News

Retail sales using electronic cards remained weak in February, according to Statistics New Zealand figures.

Briscoes profit up 81 percent

BY CLAIRE MCENTEE - © Fairfax NZ News

Briscoe Group has posted a $21.03 million tax-paid profit for the year ending January, up 81 percent on last years $11.63m.

$1.1m Postie Plus first half loss an 'improvement'

Retailer Postie Plus Group reported a smaller first half loss of $1.1 million, as sales rose compared to a year earlier.

Pumpkin Patch moving into China

CASH IN KIDS: Pumpkin Patch reported a 50 per cent jump in tax-paid profit to $14.3 million for the six months ending January.

Children's clothing retailer Pumpkin Patch has cracked the Chinese market.

Kirks aims to woo cautious shoppers with promotion

TIGHT CONTROL: Kirks will continue to focus on inventory control, and will work to maintain its 42 per cent profit margin, John Milford says

BY CLAIRE MCENTEE - © Fairfax NZ News

Wellington department store Kirkcaldie & Stains is bracing for a subdued year of retailing after a shaky start.

Big spending on fuel masked scant December retail return

PAY BACK: Consumers loaded up their credit cards at Christmas and are now tightening their belts as they pay them off.

BY CLAIRE MCENTEE - © Fairfax NZ News

Core retail sales took an unprecedented $76 million hit in December as shoppers spent less at supermarkets and department stores but more at the petrol pump.

Sales 'bang' predicted after tax cuts

BY JAMES WEIR - © Fairfax NZ News

The Government is expected to cut personal tax rates and lift GST to 15 per cent which is likely to spark a bang in shop sales before October and a fizzle afterwards.

Sales up for Postie Plus

Postie Plus Group Ltd said sales increased by 9.25 percent in the six months ended January 31, 2010 compared to the same period last year.

Picture brighter at Noel Leeming

BY GARETH VAUGHAN - © Fairfax NZ News

After a tough trading period, the Noel Leeming Group is eyeing a return to profit as competitors fall by the wayside.

Christmas sales glitter for jeweller

Jewellery retailer Michael Hill International has reported a 4.4 per cent lift in same-store sales to $221.2 million for the half year to the end of December.

Grocery giant Aldi eyes NZ market

German supermarket giant Aldi is rumoured to be eyeing the New Zealand market and investigating sites as it looks to expand from Australia.

Kiwis to spend and forget

BY KRIS HALL - © Fairfax NZ News

Kiwis will splash the cash on entertainment and dining out as a means of putting a miserable 2009 behind them, says credit card company MasterCard.

Woolies may buy liquor group

BY ADELE FERGUSON - © Fairfax NZ News

Retailing giant Woolworths is rumoured to be looking at trans-Tasman alcopops giant Independent Liquor Group.

The Warehouse going upmarket

BY CLAIRE MENTEE - © Fairfax NZ News

The Warehouse is heading upmarket but some say the retailer should stick to its knitting, reports Claire McEntee.

Retail sales reflect high confidence

BY JAMES WEIR - © Fairfax NZ News

Shop sales are expected to pick up during Christmas after hitting rock bottom a few months ago, despite a dip in consumer confidence.

Interest-free loan of $500,000 to keep top staffer

Hallenstein Glasson clothing chain shareholders were urged to agree to a $500,000 interest-free loan for shares for the women's retail chain boss.

Foodstuffs revenue up slightly to $7.62b

The three regional groupings of cooperative supermarket operator Foodstuffs had combined revenues of $7.62 billion, nudging up from $7.6b a year ago.

Fashion given the hard word

BY MARTA STEEMAN - © Fairfax NZ News

Fashion designer Annah Stretton says trading conditions "have forced fashion retailers into a corner".

Hilton eyes waterfront site

Negotiations are again under way for a five-star Hilton Hotel to be built on Wellington's waterfront.

Supermarket aim by icecream maker

BY DENISE MCNABB, AUSTRALIA CORRESPONDENT - © Fairfax NZ News

Emerald Group is considering plans to put its high-end New Zealand Natural icecream brand into Australian supermarkets.

British buyer for Canterbury of NZ

BY ROELAND VAN DEN BERGH - © Fairfax NZ News

Sportswear maker Canterbury of New Zealand has been sold to British-based sports fashion retailer JD Sports in a deal to rescue the iconic Kiwi brand.

Transpacific rubbished for exclusion

BY NICK CHURCHOUSE - © Fairfax NZ News

Australian waste company Transpacific has attracted the wrath of the head of New Zealand's largest retail investment company for ignoring small investors.