Retail Sector

Myer Share Stagnates, Despite Profit

Myer Share Stagnates, Despite ProfitShares in Myer, still lands at 16 per cent below their float price as it is unable to grab any upward momentum from the department store's more-than-expected profit result yesterday.

2009 good for Australian consumers

Year 2009 was good from the Australian consumers’ perspective. As per the conclusion of an analytical study done by CommSec, the Australian consumers benefited a lot because of the government handouts combined with lower interest rate regime.

Over and above was the fact that prices of most of the products went down since the retailers were forced to cut their margins, in order to increase sales.

Retail Sales Chopped Down in February, Predicts U.S. Economy

Retail Sales Chopped Down in February, Predicts U.S. Economy

According to the economists, retail sales possibly diminished in February because Americans were not allowed in the malls and auto-dealer showrooms.

These predictions have been posted before the report of the Government. According to the figures of the last week, only a few jobs were lost by U. S. than the predictions.

Even though some of the companies have been shut down due to the snowstorms, employment is increasing.

Data Depicts Strong Retail Sales

Data Depicts Strong Retail SalesThe data from the Office for National Statistics has depicted strong retail sales.

The data illustrated a decrease in the number of people receiving employment insurance benefits, while Canada's composite of leading economic indicators showed an increase.

Police Investigation of Coffee Buyer Confirmed by Woolworths

Woolworths-StoreWoolworths has officially confirmed that it is currently in the process of working closely with police officials, after an Executive was recently arrested on charges of alleged involvement in a secret kickback scheme.

The national buyer for coffee, tea and sugar for Woolworths, Bill Harvey has reportedly been assisting the police with all the inquiries since Friday.

Increase in Profit Leads to More Shopping Malls in Australia by Westfield

WestfieldWestfield Group, the world's leading shopping centre owner, declared a 6.2% rise in earnings.

The group that operates malls in Australia, New Zealand, Britain and the United States, has reduced its distribution payout level to between 70-75% of operational earnings starting from this year.

The company boasts of AU$7.8 billion worth of liquidity including cash and undrawn facilities.