Retail Sector

52% US shoppers likely to hits stores to grab Black Friday deals

Black Friday Deals Week

With an increasing number of retailers joining the "Black Friday Deals Week" fray, offering the lowest-possible prices on the hottest items, retail experts predict that the actual number of shoppers making a beeline for the alluring discounts will, as always, decide the fate of the holiday season.

Going by some of the recently-forwarded statistics by consulting firm Accenture, nearly 52 percent of US shoppers will likely hit the stores to grab the exclusive Black Friday deals, as compared to 42 percent shoppers reported last year.

Mitre 10 Expecting More Bids After Metcash

Hardware retailer Mitre 10

Hardware retailer Mitre 10 might just not be too into the grocery wholesaler Metcash's bid after all, as the firm is considering takeover offers from other interested parties as well, as was recently confirmed by the company. Chief Executive of Mitre 10, Mark Burrowes has shared that Metcash's bid "comes after several months of discussions with Metcash and other interested parties’’.

Online Retailers Rev Up Discounts

Online Retailers

In order to ensure that cautious consumers do not cut back on their shopping for the upcoming holiday season, major retailers including Target Corp., J. C. Penney Co. and Best Buy Co. are offering more and more promotions and sales both off and on-line, and not far behind are the online retailers, including the giant of the web shopping world Amazon. com.

The weak economy and growing number and popularity of online shopping portals has led to retailers marking these online stores as this season's biggest competition.

40% Jump Expected in Half Yearly Profits by Harvey Norman

40% Jump Expected in Half Yearly Profits by Harvey Norman

On the back of its franchised store sales going up by as much as 7.7% in the last 5 months, Harvey Norman Holdings Ltd. has shared that it is expecting its six monthly earnings to climb by at least 40% for the current year.

Westfield Recorded Fastest Sales Growth in 7 Years in UK

Westfield Group

The owner of the world's largest shopping centers by market value, the Westfield Group has revealed that retail sales in all its centers across UK have climbed at the fastest rate in 7 long years for the month of October. Also, as confirmed by the company's Managing Director Steven Lowy, the rate of store closings has also dropped since the number recorded for the March quarter.

"We hit a low point in March. Since March, we have seen two quarters of growth and stabilization in sales in the U. S. and increase in sales in the UK", Lowy shared.

1.9% Growth in Australian Retail Sales Reported by Westfield for Third-Quarter

Westfield Group

Westfield Group, one of the world's largest and top ranked mall owners, has posted a successful third-quarter report on the back of growing retail sales across Australia.