The growing spectre of online shopping has not deterred one of the country’s largest retailers from investing in its bricks-and-mortar assets, with David Jones opening its fifth Western Australian store today as part of the final chapter of Mandurah Forum’s $350 million redevelopment.
A private interstate investor has purchased the Coles complex in Riverton, which includes a supermarket, a First Choice Liquor, a TAB and a 300-bay carpark, for $32 million.
Investors have welcomed today's news that Wesfarmers plans to spin-off supermarket giant Coles and create a separately listed business that would rank among the 30 biggest on the Australian stock market.
A number of local mining companies have moved up the stock market rankings, with contractor Ausdrill included in the S&P ASX 200 index, while South32 has been admitted into the top 20 as part of the market’s quarterly rebalance.
International retail giant Costco is planning to build its first Western Australian store at Perth Airport, located alongside the giant DFO Perth store currently under construction.
Woolworths’ liquor arm has resigned from the Liquor Stores Association of Western Australia, following the association's support for state government plans to restrict the growth of large liquor stores, such as Dan Murphy's and First Choice.
Cash Converters International has recorded an 18 per cent decline in net profit for the half year to December as the company transitions its business under chief executive Mark Reid.
Shares in chocolate retailer Yowie Group dropped 21 per cent today after the company announced sales in the United States so far this quarter have been well down on expectations thanks to growing competition.
ASX-listed property group Stockland is set to develop its fifth shopping centre in Western Australia after receiving state and local planning approvals for its Whiteman Edge Town Centre in Brabham.
The competition watchdog has had its first major win enforcing a new franchising code of conduct, with the Federal Court today fining Pastacup franchisor Morild and co-founder Stuart Bernstein $150,000 for a failure to disclose he had been a director of two insolvent entities.
Perth’s shoppers will enjoy the same extended shopping hours as last year to buy presents and hunt for bargains, but employers want longer hours all year round.
Western Australian retailers have a positive view of business conditions in the year ahead, according to a recent survey by the Commonwealth Bank of Australia, with one third expecting an improved market in the 2018 financial year.
