Retail

ALDI’s imminent arrival in WA and continuing competition between the retail majors has sidelined many retail developers who just can’t pay the big prices Coles and Woolworths will shell out for new sites.

The arrival of a clutch of new international brands in coming years has the potential to rejuvenate the city retail sector, which has been hit by softer spending and the extended shopping hours at suburban centres.

Retailer David Jones has seen its full year profit slide six per cent amid weaker sales and pressure to cut prices.

Shares in Kathmandu Holdings have jumped nine per cent after the retailer announced a 27 per cent increase in full year profit.

Another store at my local shops pulled down the shutters this week.

Struggling surfwear company Billabong International has appointed a new chief executive and struck a long-term refinancing deal.

Australia's online retailers are more likely than traditional store owners to hire staff in the next year.

Retailers have urged the new Abbott government to hit the ground running to help boost confidence heading into the Christmas shopping season.

Australian shopping centre giant Westfield is selling seven US malls for $US1.64 billion ($A1.76 billion).

Myer chief executive Bernie Brookes has criticised high wages costs and the GST as the department store's full year profit fell by 8.7 per cent to $127.2 million.

Westfield Group looks set to offload its stake in two major shopping centres in suburban Perth just days after it was given the green light to increase ownership of the Karrinyup centre.

Cash Converters is seeking to raise $50 million to $60 million through an issue of corporate bonds to repay part of the group's existing debt and to fund further investments.

Consumer confidence in Western Australia has plunged because of political uncertainty at the federal level and following a belt-tightening state budget, a survey shows.

Western Australia’s retail sector is showing the strain of the slowing state economy, with consumer spending falling for the first time since April 2010.

Billabong shares have surged after an American shareholder group called for a spill of the embattled surfwear company's board.

Electrical and homewares retailer Harvey Norman's full year profit has fallen 17.5 per cent amid dwindling sales across its Australian and European businesses.

Shopping mall giant Westfield is more upbeat about its growth prospects in the United States than Australia.

David Jones says weak consumer sentiment has contributed to a continued decline in sales from its department stores.

Woolworths has lifted its full year profit almost 25 per cent amid solid earnings growth from its core supermarkets division.

Troubled surfwear company Billabong has made a net loss of $860 million with major writedowns and a drop in revenue.

Commerce Minister Michael Mischin says he is open to the possibility of further extending Sunday shopping hours, but has not made any firm decision on the matter.

Motor retailer and logistics company Automotive Holdings Group's profit is up more than 30 per cent, thanks to strong sales and results from its core businesses.

Wesfarmers is optimistic about the year ahead after supermarket giant Coles helped it grow annual profit by 6 per cent to $2.26 billion.

Stronger sales and improved margins have lifted retailer JB HiFi's net profit by more than 11 per cent.

Retail spending figures for June were below market expectations but it appears that the big retailers are seeing an improvement in sales.

Retail giant Woolworths grew sales by 4.3 per cent to more than $59 billion last financial year.

Woolworths is bracing for its home improvement division to lose $139 million as the building sector struggles and wage costs blow out.

After running some of Perth's best-known nightclubs for five years, businessman David Heaton is taking a decidedly different tack in his next business venture.

Shares in ailing surfwear retailer Billabong are riding a wave after news chief Launa Inman will step down as part of a deal with a US private equity group to help refinance its debts.

Beleaguered surfwear icon Billabong is expected to announce asset sales and new loans within days as it fights to overcome weak revenues and oversized debt.

Consumer confidence has improved, but remains weaker than it was at the beginning of the year.

Charter Hall has bought a shopping centre in Perth’s southern suburbs for $33.2 million.