RETAIL TRADE – AUSTRALIA

Rivers rus dry with no buyers

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Original article by Eli Greenblat
The Australian – Page: 15 : 24-Jan-25

The receivers and managers of Mosaic Brands have advised that they have been unable to find a buyer for its Rivers footwear and clothing brand. David Hardy from receiver KPMG says all remaining 136 stores operating under the Rivers brand will be close by mid-April, with the loss of about 650 jobs. Rivers and several other brands were acquired in 2018 by Noni B, which subsequently became Mosaic Brands. The company collaped in late 2024 with debts of nearly $250m, and several of its retail brands were immediately axed. The brand that eventually became Rivers was established in 1863.

CORPORATES
RIVERS (AUSTRALIA) PTY LTD, MOSAIC BRANDS LIMITED – ASX MOZ, KPMG AUSTRALIA PTY LTD

Myer to relaunch loyalty scheme after merger

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Original article by Carrie LaFrenz
The Australian Financial Review – Page: 11 : 24-Jan-25

More than 96 per cent of Myer shareholders have voted in favour of a deal to acquire Premier Investments’ clothing brands. The deal was also backed by more than 99 per cent of Premier’s shareholders. Myer’s executive chair Olivia Wirth says the department store group will relaunch its Myer One customer loyalty program later in 2025 and expand it to include the network of stores in Premier’s Apparel Brands portfolio; they include Just Jeans, Portmans and Jacqui E. Premier’s chairman Solomon Lew will have a stake of about 27 per cent in the enlarged Myer and gain a seat on its board, while Premier will now focus on its Smiggle and Peter Alexander brands.

CORPORATES
MYER HOLDINGS LIMITED – ASX MYR, PREMIER INVESTMENTS LIMITED – ASX PMV, JUST JEANS PTY LTD, PORTMANS PTY LTD, JACQUI E PTY LTD

Profit shock for Myer, Premier Investments

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Original article by Matt Bell
The Australian – Page: 13 & 14 : 14-Jan-25

Department store group Myer Holdings has advised that its sales totalled $1.59bn for the 22 weeks to December 28; this is 0.8 per cent lower than previously, and includes the crucial Black Friday, Christmas and Boxing Day sales. The trading update prompted investors to sell down Myer’s shares, with the stock falling 23.1 per cent to $0.88 on Monday. A deal to acquire the apparel brands of Premier Investments will be put to a vote of Myer shareholders on 23 January. Premier Investments has also indicated that weak sales will affect its earnings for the current half-year; its shares fell 15.9 per cent to $27.78.

CORPORATES
MYER HOLDINGS LIMITED – ASX MYR, PREMIER INVESTMENTS LIMITED – ASX PMV

Aussies to spend $2.7 billion as students head Back to School

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Original article by Roy Morgan
Market Research Update – Page: Online : 14-Jan-25

Research by the Australian Retailers Association, in partnership with Roy Morgan, reveals that 5.1 million Australians aged 18+ (24%) will spend an average of $525 each on Back to School-related merchandise in 2025. This is up from an average of $512 in 2024. BTS purchases are projected to generate around $2.7 billion in sales – this is $150 million (5.9%) higher than last year’s BTS spending, driven by population growth and inflation. Of those surveyed, 44% of Australians making BTS purchases said they would be spending more than last year, while 23% said they would spend the same and 33% said they would be spending less. The most popular purchases will be stationary (mentioned by 55% of respondents), school uniforms (53%), footwear (50%), books (40%) and lunchboxes or water bottles (27%). Women remain the main household decision maker on BTS purchases with 74% of purchases, followed by men at 14%, guardians at 6% and students themselves at 2%.

CORPORATES
ROY MORGAN LIMITED, AUSTRALIAN RETAILERS ASSOCIATION

Profit shock for Myer, Premier Investments

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Original article by Matt Bell
The Australian – Page: 13 & 14 : 14-Jan-25

Department store group Myer Holdings has advised that its sales totalled $1.59bn for the 22 weeks to December 28; this is 0.8 per cent lower than previously, and includes the crucial Black Friday, Christmas and Boxing Day sales. The trading update prompted investors to sell down Myer’s shares, with the stock falling 23.1 per cent to $0.88 on Monday. A deal to acquire the apparel brands of Premier Investments will be put to a vote of Myer shareholders on 23 January. Premier Investments has also indicated that weak sales will affect its earnings for the current half-year; its shares fell 15.9 per cent to $27.78.

CORPORATES
MYER HOLDINGS LIMITED – ASX MYR, PREMIER INVESTMENTS LIMITED – ASX PMV

Aussies to spend $2.7 billion as students head Back to School

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Original article by Roy Morgan
Market Research Update – Page: Online : 14-Jan-25

Research by the Australian Retailers Association, in partnership with Roy Morgan, reveals that 5.1 million Australians aged 18+ (24%) will spend an average of $525 each on Back to School-related merchandise in 2025. This is up from an average of $512 in 2024. BTS purchases are projected to generate around $2.7 billion in sales – this is $150 million (5.9%) higher than last year’s BTS spending, driven by population growth and inflation. Of those surveyed, 44% of Australians making BTS purchases said they would be spending more than last year, while 23% said they would spend the same and 33% said they would be spending less. The most popular purchases will be stationary (mentioned by 55% of respondents), school uniforms (53%), footwear (50%), books (40%) and lunchboxes or water bottles (27%). Women remain the main household decision maker on BTS purchases with 74% of purchases, followed by men at 14%, guardians at 6% and students themselves at 2%.

CORPORATES
ROY MORGAN LIMITED, AUSTRALIAN RETAILERS ASSOCIATION

Aussies face $2.7 billion Christmas debt hangover

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Original article by Hannah Kennelly
The Age – Page: Online : 8-Jan-25

Research by consumer comparison site Finder shows that eight per cent of Australians had expected to go into debt during the 2024 Christmas holiday season. This equates to about 1.7 million people; the survey also found that about 20 per cent of them will take at least six months to repay this debt. The Australian Retailers Association and Roy Morgan in turn had estimated that consumers would spend $69.8 billion in the lead-up to Christmas, with the average shopper expected to spend $707 on gifts. The ARA and Roy Morgan also estimate that Australian consumers spent $1.3 billion on Boxing Day, and a total of $3.7 billion in the six days after Christmas.

CORPORATES
FINDER.COM.AU, AUSTRALIAN RETAILERS ASSOCIATION, ROY MORGAN LIMITED

Rocky start to Lew’s British adventure

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Original article by Eli Greenblat
The Australian – Page: 13 & 16 : 17-Dec-24

Internal documents have revealed that Solomn Lew’s Premier Investments is having problems in both the UK and Australia. Sales from the first three UK stores of its sleepwear brand Peter Alexander are trading at 61.6 per cent below budget, while sales for its Smiggle brand in the UK between August and last weekend were down 12.2 per cent on the same period last year. Premier Investments’ other retail and fashion brands in Australia are also seeing negative sales growth when compared to 2023, with those brands including Jacqui E and Just Jeans.

CORPORATES
PREMIER INVESTMENTS LIMITED – ASX PMV, PETER ALEXANDER SLEEPWEAR PTY LTD, SMIGGLE PTY LTD, JACQUI E PTY LTD, JUST JEANS PTY LTD

Rocky start to Lew’s British adventure

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Original article by Eli Greenblat
The Australian – Page: 13 & 16 : 17-Dec-24

Internal documents have revealed that Solomn Lew’s Premier Investments is having problems in both the UK and Australia. Sales from the first three UK stores of its sleepwear brand Peter Alexander are trading at 61.6 per cent below budget, while sales for its Smiggle brand in the UK between August and last weekend were down 12.2 per cent on the same period last year. Premier Investments’ other retail and fashion brands in Australia are also seeing negative sales growth when compared to 2023, with those brands including Jacqui E and Just Jeans.

CORPORATES
PREMIER INVESTMENTS LIMITED – ASX PMV, PETER ALEXANDER SLEEPWEAR PTY LTD, SMIGGLE PTY LTD, JACQUI E PTY LTD, JUST JEANS PTY LTD

$140m Woolies wipe-out boosts Coles

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Original article by Eli Greenblat
The Australian – Page: 15 : 10-Dec-24

Woolworths has yet to determine the full cost of the industrial action at four of its distribution centres. The strike action was initially estimated to have cost it about $50m in lost sales, but this is expected to rise to around $140m. The resolution of the industrial dispute will result in a pay rise of 11 per cent over three years for the warehouse staff; the United Workers Union had initially sought an increase of 25 per cent. Meanwhile, rival Coles has enjoyed a sales boost due to the strike action, although it has had to put on extra staff at its supermarkets and warehouses to meet the increased demand.

CORPORATES
WOOLWORTHS GROUP LIMITED – ASX WOW, UNITED WORKERS UNION, COLES GROUP LIMITED – ASX COL