Woolworths is resisting pressure to offload BIG W even though the chain will lose another $150 million this year as it battles to fix basic processes and overcome perceptions the format is “dated and dormant”. Woolworths slashed prices on more than 2000 products at BIG W in 2017 by an average 20 per cent in…
Recent recorded challenges of large retailers such as Edcon, Stuttafords, House of Busby, Mango and others could be examples. A number of global and seasoned retailers have entered SA in recent years, particularly in the apparel market, including Zara, H&M, Cotton On and other more upmarket clothing retailers. This has put some local firms under…
The August reporting season has hit warp speed, with more than 50 companies trotting out either full or half year results. Key points: Disappointments dominate the busiest day of reporting season ASX200 results biggest profit: Woolworths $1.5bn biggest loss: Vocus $1.5 billion ASX200 results biggest gain: A2 Milk +5pc Biggest loser: Healthscope -15pc…
Cavalier Corp sank back into the red after the overhaul of the wool carpet maker’s operations proved more expensive and more prolonged than expected, raising flags over the company’s ability to keep operating as a going concern. The Auckland-based company posted a loss of $2.1 million, or 3.1 cents per share, in the 12 months…
Cavalier Corp sank back into the red after the overhaul of the wool carpet maker’s operations proved more expensive and more prolonged than expected, raising flags over the company’s ability to keep operating as a going concern. The Auckland-based company posted a loss of $2.1 million, or 3.1 cents per share, in the 12 months…
Macys, Inc. announced several changes intended to improve the companys performance, including the hiring of Hal Lawton as president, the creation of a single simplified merchandising organization and an enhanced focus on the companys data analytics capabilities. Hal Lawton Named President of Macys Hal Lawton has been named president of Macys, effective Sept. 8. As president, Lawton will be…
On Tuesday, shares of department store Macy’s Inc. M are gaining, up over 4% in late-morning trading after the company announced a major restructuring plan that could be exactly what the struggling retailer needs. Macy’s said it will be cutting 100 jobs as part of a consolidation plan to unite its merchandising, planning, and private…
The retail landscape has been undergoing a fundamental change. With digital transformation in shopping and consumers splurging online, store and mall traffic has been hit hard. As a result, most retailers, including big-box, are struggling to compete with e-commerce channels and are being forced to trim store count to focus more on an online model.…
The Advertising Standards Authority of South Africa (ASA) has undergone radical restructuring with a new acting CEO in place, major fundraising underway and various business rescue recommendations being implemented. Gail Schimmel, advertising law specialist and acting CEO of the organisation since June, says the ASA had become removed from the industry and somewhat arrogant. It…
The Amcor Limited (ASX: AMC) share price has edged higher today after the packaging company released its full-year results. At the time of writing Amcor?s shares are up 0.5% to $16.07, bringing their year-to-date return to almost 8%. Key takeaways from today?s result include: Sales revenue down 3.4% to US$9.1 billion. EBITDA up 2.7% to US$1,447 million (4.2% in…