Retail Sector

Jeff Warne Resigns as CEO

O'Charley's-Jeff-WarneThe resignation of Jeff Warne as President and Chief Executive Officer of O'Charley's did not come as a surprise to analysts. The Company is having a hard time due to the recession and it is under a lot of pressure. Its revenues are declining for the last three years and it is also losing money for the last two years.

Australian Grocery Stores Share Sales Figures with Public

Australian Grocery Stores Share Sales Figures with PublicIn an attempt of attracting more and more customers, a number of stores in Australia have disclosed their mid-year sales figures. They aim at clearing the old stocks as early as possible.

These departmental stores began with their annual stocktake sales yesterday, coupled with the release of their retail sales figures showcasing their performances.

Retail sales Shows Improvement, Housing Sector Poor

Retail sales Shows Improvement, Housing Sector PoorAustralian consumers headed back into shops in April, energizing the long dismayed retail sector, however, housing market continued to remain in troubling waters as building approvals fell sharply.

Retail sales marked a rise higher than expected 0.6 per cent touching a seasonally adjusted $20.12 billion in April, compared to $20bn in March, the Australian Bureau of Statistics uncovered today.

Firm Faces Fine for Misleading NZ-made Claim

An Auckland souvenir shop is reported to be imposed with a fine of $6000 for misleading claiming that its royal jelly was a product of New Zealand.

The merchandize was reported to be retailed in Auckland souvenir stores and the Company, Shim's International Ltd, trading as Royal Deer of New Zealand, faced conviction in Auckland District Court on two charges of violating the Fair Trading Act.

It is the second Company in a month that has been convicted and fined.

Gift Certificates and Deposits to Be Honored

Gift Certificates and Deposits to Be HonoredThe recipients of collapsed electrical seller, Clive Peeters, have given assurance to customers that they will credit all deposits and gift certificates.

Consumers had been worried about not receiving undelivered merchandise that had been paid for by them, following the corporation was positioned in voluntary management on Wednesday.

Receivers to Sell Clive Peeters

Receivers to Sell Clive PeetersThere seems to be note end to the troubles of electrical appliance retailer Clive Peeters financial woes. They have increased after bank creditor NAB called up receivers to take control of the troubled retailer.