Retail

Beleaguered consumer goods retailer Harvey Norman hopes to claw back market share, as tough trading conditions are expected to force many of its competitors to close.

Schools supplier Campion Education has agreed to purchase the stock of one-time market leader Wooldridges, bringing to an end any hopes of reviving the Wooldridges business and delivering a return

Shopping centre owner Centro Retail Australia has posted a $223 million loss, due mainly to costs related to its settlement of a class action.

Industrial hardware and parts supplier Coventry Group has announced a net profit of $19 million for the year ended June 30, lodging a 6 per cent increase in revenue to push it back into the black.

Troubled surfwear retailer Billabong believes it can improve its earnings in fiscal 2013 after reporting a $275.6 million loss for 2011/12.

Automotive Holdings Group says it will be on the look out for more acquisitions in the current year after reporting a hefty jump in full year net profit.

Woolworths shares slipped today after it posted a 15 per cent fall in full year profit because of its exit from the Dick Smith electronics chain.

Cash Converters has posted a six per cent rise in net profit to a record $29.4 million due to strong growth in its personal loans business.

Perth-based car dealer network Automotive Holdings Group is flexing its muscles in Australia’s truck and bus market, announcing a number of acquisitions in NSW and Queensland.

David Jones has unveiled another set of falling sales figures, but the troubled department store says it sees signs of improvement.

Window furnishings manufacturer and retailer Kresta Holdings has appointed fomer QBE executive Giuliano Di Bartolomeo as its new chief executive.

Shares in Pacific Brands have dived by more than five per cent after the troubled clothing maker unveiled a blowout in full-year losses and announced its boss will leave.

Shopping centre operator Westfield Group won't say whether or not it will cut the size of its workforce by up to 10 per cent.

Australian businesses are experiencing another decline in retail spending as fickle consumers hold on to their money after two months of opening their wallets.

Myer chief executive Bernie Brookes says the traditional big retailers will overcome their reluctance to adapt to the internet by becoming the top 10 shopping sites within five years.

A range of positive factors, including solid wage growth, has failed to lift the mood of consumers.

Westfield has lifted its first half profit by nearly a third and says it will boost investment in its better-performing Australian shopping centres to drive earnings further.

Westfield has confirmed it is in talks with financial services group AMP about a possible split of the multi-billion dollar shopping centres they own and manage.

Electronics retailer JB Hi-Fi is aiming to boost its market share as more of its troubled rivals fall by the wayside in the gloomy retail market.

Struggling department store operator Myer has appointed Paul McClintock as a non-executive director and chairman-elect, after current chairman Howard McDonald decided to stand down.

Unsecured creditors of school supply business Wooldridges, which collapsed last week with $50 million in debt, are likely to receive less than 10 cents in the dollar.

Harvey Norman boss Gerry Harvey has blamed slashing prices on televisions and computers for an expected 40 per cent drop in full year profit.

Consumer prices rose only slightly in July, despite the start of the carbon tax at the beginning of the month.

Almost 200 Darrell Lea staff are set to lose their jobs today as the confectioner shuts the doors at 32 stores.

An accelerating trend in retail spending continued in June, confirming that spending is getting back into line with rising household incomes.

The competition watchdog says it is making progress in investigating whether major supermarket chains abuse their market power in dealings with suppliers.

With online retailing, it's now a case of the quick and the dead.

Country Road has agreed to buy fellow fashion retailer Witchery Australia for $172 million.

Grocery wholesaler Metcash has paid $46.5 million to take complete ownership of hardware chain Mitre 10.

Australians are paying almost twice as much as US shoppers for some computer games because the IT industry discriminates, consumer watchdog Choice says.

The head of one of Australia's retail giants fears there is no end in sight to the nation's consumer gloom, despite its flagship Coles supermarket boasting a hefty full year sales increase.