Retail

ASX-listed retail group Mosaic Brands has informed shareholders of plans to shut about a fifth of its stores, citing decreasing income from brick-and-mortar stores.

Coles has reported sales revenue rose 10.5 per cent in its first quarter, driven by Victorians stockpiling goods amid coronavirus lockdowns.

Perth prices rose 1.8 per cent in the September quarter, the sharpest lift since June 2006, after a big fall during the COVID-19 shutdown.

Riot! Art and Craft went into liquidation last week, reportedly dismissing staff via a text message as the business closed all 56 stores.

The recent buoyancy of consumer confidence has yet to be reflected in retail spending, which is down 1.5 per cent in September.

Afterpay and Zip have struck deals with Westpac and Visa to bundle their services, as payment providers expand and evolve with technology.

Andrew and Nicola Forrest have added to their sprawling private business empire by purchasing boot manufacturer and retailer R.M. Williams for a reported $190 million.

A further two businesses have exited Yagan Square, taking the number of departures to 10 since the precinct opened in 2018, as retailers face pressure.

Multinational retail discount store Costco has received development approval to open a second store in Western Australia, planned for Casuarina, within the City of Kwinana.

A $644 million package to credit electricity bills is a smart move to encourage spending, economists say, while recent retail trade data is strong for WA.

The owner of Just Jeans, Peter Alexander and Portmans has reported a 29 per cent rise in full-year profit, but says it may close more stores.

Retail spending fell across the nation in August, with Victoria recording a massive 12.6 per cent drop as the state's COVID-19 restrictions hit non-essential retail businesses.

Broome’s Chinatown Revitalisation to create a world-class tourism precinct in the Kimberley has been given the green light.

The pandemic has accelerated existing issues and trends facing the retail property sector.

It will take a mix of planning, marketing and property redevelopment initiatives to resuscitate Perth’s ailing CBD retail market.

Certain pockets of the retail market have proved their value during the pandemic, and investors are taking notice.

Five outlets at Yagan Square have shut their doors in recent months as the COVID-19 recession takes its toll on the precinct.

Myer has reported a full-year loss of $172.4 million after sales fell more than 15 per cent from temporary store closures due to the coronavirus pandemic.

Retailer Colette by Colette Hayman will keep only a third of its Australian and New Zealand stores open after securing a new owner.

WA’s domestic economy contracted 6 per cent in the June quarter, slightly better than national figures showing Australia is in recession.

Cash Converters has posted a $10.5 million loss, while chairman Stuart Grimshaw is the latest to leave the company.

Gary Martin says the coronavirus pandemic has fuelled digital shopping sprees, with consumers flocking to online reviews.

Afterpay has failed to sustain the share price spike some pundits tipped would follow its full-year results, as questions remain as to the true value of the company.

Woolworths has copped a 1.2 per cent hit to its profits as the coronavirus pandemic drives a wrecking ball through the supermarket giant's hotels division.

Booming sales at Bunnings and Officeworks through the pandemic may have been a bright spot in Wesfarmers' full-year results.

Property group Vicinity Centres has reported a net loss of $1.8 billion amid retail closures and declining visitor numbers at its shopping centres.

Consumers in Perth are more confident than any other major capital by some margin, according to the latest ANZ Roy Morgan weekly consumer confidence data.

Automotive marketplace Grays Online has acquired fellow Perth-based merchant Gregsons Auctioneers & Valuers.

Entertainment retailer JB Hi-Fi has been buoyed by customers spending more on electronic equipment to supply their home offices during the coronavirus pandemic.

Retail sales in Australia fell by 3.4 per cent in the June quarter amid coronavirus lockdowns, which is the biggest drop since the GST was introduced in 2000.

Coca-Cola Amatil said it would write down the value of its Indonesian assets by $160 million to $190 million as a result of the COVID-19 pandemic.

Retail sales in Australia rose a solid 2.4 per cent in June, as people flocked to reopened cafes and restaurants and spent more on clothing in the first full month of trade since the lockdowns ended.