Wesfarmers (ASX: WES) has completed the first phase review of its iconic Target brand, confirming that its financial viability is not sustainable and that the majority of stores will be transformed into Kmart stores which better reflects the retail needs of Australian customers. The decision comes as Target has continued to see declining sales with
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Diamonds may be a girl’s best friend, but possibly not for the small number of Michael Hill International (ASX, NZX: MHJ) employees told that their workplaces will remain permanently closed, even after COVID-19 subsides. It signals a likely trend in the global retail market where retailers will be undergoing gradual re-opening of stores but will
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Popular fashion labels Noni B, Katies, Rockmans and Rivers will soon be re-opening their retail stores with parent company Mosaic Brands (ASX: MOZ) confirming they will undergo a progressive restart after closing their 1,400 stores in March due to coronavirus biosecurity. Despite its store network’s closure over the past six weeks, Mosaic’s focus towards online
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As an industry which had already been fighting for survival before the coronavirus pandemic, the stark reality is that the retail sector will never recover from the fallout of COVID-19. Walking through the corridors of Highpoint Shopping Centre during normal trading hours, more than 80% of retail stores had shut their doors, the only ones
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Australian stationery retailer, Kikki K, are the latest victim to the group of falling retail chains after news was released yesterday that the company was facing voluntary administration. While the stores and online shopping currently remain open to customers, the future of almost 500 jobs is uncertain. The swedish-design company was founded by Kristina Karllson
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Australian retailer Noni B (ASX: NBL) and Alceon Group have reached an agreement to purchase a 50.1% stake in EziBuy, a large multi-channel clothing and homewares retailer in New Zealand for an undisclosed “nominal” figure. The purchase will provide Noni B and Alceon with the majority stake in EziBuy which last year reported NZD $135m
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