Nike (and others) close stores in Australia In a race to stop the spread of COVID-19 worsening in Australia, major retailers are opting to close their stores. Scentre Group, which operates Westfield in Australia, had been bubbling along at around $4 per share for several years. Children’s fiction is up 278 per cent, which is a lot of Harry Potter, while sales of games and puzzles have skyrocketed by almost 400 per cent. “The actions announced reflect our continued focus on investing in Kmart, a business with a compelling customer offer and strong competitive advantages, while also improving the viability of Target by addressing some of its structural challenges by simplifying the business model,” Wesfarmers managing director Rob Scott said last year. Yet, some retailers like Dymocks and The Reject Shop are having a boom time with sales up 400 per cent, far exceeding even that of Christmas. While the Target’s physical footprint will shrink, the business would still be available 24 hours a day, it announced in a business update. Nationwide News Pty Limited Copyright © 2021. Last week, The Reject Shop said same-store sales in the new year had increased more than six-fold to over 15 per cent. Around 55 Target’s will be converted around Australia into Kmart stores or KHubs, smaller neighbourhood stores that stock products across kids, home and clothing. Premier said that the closures were because its “primary focus is the health and safety of employees, customers and the broader community.”. Vicinity Centres, that operates Melbourne’s Chadstone, Sydney’s Queen Victoria Building and DFO, has seen its share price plunge by two-thirds. Customer spending in Australia increased to 261905 AUD million in the last quarter of 2018, and has actually continued to rise since 2016¹, and yet we continue to learn of another retailer closing its doors and entering into administration. Target stores across Australia will start to be converted into Kmarts from the start of this year. It is one of the most ruthless bloodbaths in the retail market that is being witnessed in Australia. Target confirmed 52 stores across all states and territories except the Northern Territory. Neiman Marcus announced plans in September 2017 to close 25% of its Last Call outlet stores. Sign up, Join the conversation, you are commenting as Logout. VICTORIA. Dymocks has seen a 344 per cent increase in sales of children’s nonfiction and educational books as parents prepare to have their kids at home for potentially months. Premier Investments chief executive Mark McInnes said the retailer had no choice but to temporarily close all of its 900-odd retail stores in Australia … Wesfarmers’ Officeworks has seen its bottom line boosted as people refashion their dining room tables into workstations. A NOTE ABOUT RELEVANT ADVERTISING: We collect information about the content (including ads) you use across this site and use it to make both advertising and content more relevant to you on our network and other sites. More Kmarts are coming to Australia as Targets are closed and converted. It said all team members in Target stores scheduled for conversion to Kmart would receive an offer of employment from Kmart, while those from closing stores would be “given consideration for new roles”. In the video above: Why Aussie retailers are struggling 01 May 2019. Indian Motorcycle Australia will close its company-owned stores in Brisbane, Sydney, Melbourne and Perth and move to a system of privately owned dealerships. The Shopping Centre Council of Australia, which represents the big malls, has recommended that its members don't terminate leases on small and medium sized business owners that are struggling to pay rent. 2020 starts with a whimper Bose joins a list of retailers who have committed to closing stores over the next few months, with EB Games shutting 19 stores, Harris Scarfe closing 21, Bardot closing 58, and Curious Planet’s closure seeing 63 doors shut. Despite physical stores closing operations, Michael Hill will continue its online and e-commerce operations. To see how bad it is, just peek into your local shopping centre today and see how barren it will look. Coronavirus Australia: Why some retailers are closing their doors while others are selling more than ever. Right now, most shops can remain open. Things aren’t so bright for the big shopping centre owners, despite housing many supermarkets. Read how many FNQ stores will be impacted. A NOTE ABOUT RELEVANT ADVERTISING: We collect information about the content (including ads) you use across this site and use it to make both advertising and content more relevant to you on our network and other sites. Last year alone, we saw the demise of some of Australia’s well known brands, including Toys R Us, Esprit, Ed Harry and Shoes … At the onset of the year 2020, whereas many as 161 Australian Bricks and Mortar stores in Australia have already announced their closures. Bose isn't amped up over having brick-and-mortar retail stores anymore, so the speaker and headphone company is closing all 119 of its outposts in North America, Europe, Japan and Australia. Many firms have been saying the same thing. Australian economy is riding on $507 billion government stim... China hits back at Australia over Hong Kong joint statement. Woolworths, which owns 28 of the centres it anchors, has said it will offer rent relief to most of its tenants and even give staff casual roles in the supermarkets and liquor stores for the next few months. Target stores across Australia will start to be converted into Kmarts from the start of this year. But this does not … All times AEDT (GMT +11). How to return a broken item: ‘No returns’ policy, legal advi... Big rise in Australian shopping habits a promising sign for ... How teen Harry Edwards earns $100k on Fiverr with video edit... Find out more about our policy and your choices, including how to opt-out. Changes will occur gradually throughout the year with their stores closing as alternative … The Bose website lists 50 stores in the U.S. — which will all be out of business within months. Art supplies retailer Riot Art & Craft has closed its 56 stores, after being placed in liquidation last week, as pressure mounts on Australian retailers. Picture: Angelo Velardo/AAPSource:News Corp Australia. Don't have an account? Dymocks has seen 400 per cent growth in some categories. The Hornsby store, in Sydney's north, closed … Earlier this week in a note to the ASX, Woolworths Group said it was “not able to accurately forecast the net impact of COVID-19 on the financial year results”. news.com.au January 15, 2021 6:56pm TASMANIA. Others, like Kikki. Find out more about our policy and your choices, including how to opt-out. • March 25: Accent Group is temporarily closing of all its stores, which include The Athlete's Foot, Hype and Platypus, with 5000 workers impacted.You can continue to shop these brands online. All times AEDT (GMT +11). Target stores across the country are set to be closed or converted into Kmart stores this year as parent company Wesfarmers tries to stem its losses. Target stores closing or being converted to Kmart stores in Queensland. Full list of the Target stores closing, rebranding as Kmart NSW. Image: Supplied.Source:Supplied. Mosaic Brands says the leases on around 87 per cent of its 1,333 stores are expiring over the next two years and it anticipates closing potentially 300 to 500 of those stores over that time period. • March 25: Fashion conglomerate Mosaic Brands, which owns the Noni B, Rivers and Katies brands among others, has closed more than 1300 stores and stood down 7000 employees. Shopping centres have been quiet and, aside from the supermarkets within them, are likely to remain so. It comes after 16 Target outlets already went through transformations into Kmarts in 2020. Many retailers in Australia are far from achieving this and must be careful not to rush with permanent solutions too quickly to avoid regret spend. “But customers expect more from their retail experiences now and simply offering a mediocre proposition isn't enough. The share price of GPT, which runs Melbourne Central among others, has been cut in half. The brutal 2020 retail bloodbath … News that 9000 Australians will be stood down from retailers including Just Jeans, Flight Centre and Lovisa will come as no surprise. In the space of six months, department store Myer – heavily reliant on clothing sales – has seen its share price plummet from a high of 62c a share to just 12c today. Australian retailers are currently going under at the rate of about one a month, making everyone in the industry nervous. A compelling offer, customer loyalty and a streamlined online presence were all key. Source:Supplied. But Woolworths could well be looking at its most impressive sales growth for years. As a whole, the food, beverage, and grocery industry accounts for more than a third of Australia's manufacturing sector. Picture: Stefan Postles/AAPSource:AAP. They will keep their doors open but their share prices have fallen off a cliff. “There are retailers that are not necessarily considered as essential as supermarkets, but are selling products that are continuing to do well in this current climate. Chico’s. News of the shrinking Target estate broke last year after sales slumped by $67 million, but many of the changes are happening in 2021. So which stores are losing out in the battle against COVID-19 and why? WESTERN AUSTRALIA. In December 2019, 50.1 million parcels were delivered by Australia Post, a 23 per cent increase on the same month’s figure in 2018, but this still only makes up 10-11 per cent of what’s being bought in Australia. Today’s store closures are the latest in a long line of retail casualties in 2019. “They sell items like home electronics, toys, books, home office supplies, gym equipment, plants – these are all things that people are now focusing on now that they're both working and entertaining themselves at home now.”. Myer closed 74,670 square metres of stores in 2015-17 and shut down its Colonnades store in Adelaide and Belconnen outlet in Canberra. Fashion retailer Colette by Colette Hayman is set to close a quarter of its stores, weeks after it was placed into voluntary administration. Again, most states and territories are affected except the ACT and Tasmania. Sydney’s Auburn store was the first to close in January. The businesses across world markets are rallying down, and retail markets have been hit in the worst manner. Picture: NCA NewsWire / Flavio BrancaleoneSource:News Corp Australia. K and Tigerlily have collapsed completely. Other retailers, however, have said that social distancing regulations are completely at odds with running stores where shoppers are encouraged to linger and interact with staff. Peter Alexander stores will all close at the end of today. Stricken women's retailer Bardot will close dozens of stores across Australia as it struggles to find a buyer, it was announced in January. KPMG retail specialists delve into the key trends and forecasts included in the report. Breaking news and updates on the Australia retail industry covering technology, payments, stores, consumer trends and behaviours and more. Bunnings, also part of Wesfarmers, is seeing so many customers it has had to impose supermarket-style limits on products such as generators, face masks, turpentine and batteries as Australians hunker down in their home bunkers. So, I feel like – for these retailers – coronavirus might just be the tipping point for them.”, Join the conversation, you are commenting as, news.com.au — Australia’s leading news site, 9000 jobs in limbo as Peter Alexander, Just Jeans, Dotti close. How to return a broken item: ‘No returns’ policy, legal advi... Big rise in Australian shopping habits a promising sign for ... New Kmart stores: The Target stores closing and being conver... Find out more about our policy and your choices, including how to opt-out. The smaller format KHub that will see some Targets transformed. Customers are embracing the Reject Shop. So, I feel like – for these retailers – coronavirus might just be the tipping point for them.”, To join the conversation, please Log in. Picture: Matthew Vasilescu/AAPSource:News Corp Australia. Yet, at the moment, Myer will stay open. Editor of Inside Retail magazine Jo-Anne Hui-Miller told news.com.au that retailers that rely on customers’ discretionary spend – money left over after buying the basics – were particularly vulnerable right now. The ASX-listed group told investors on Thursday it had 'no choice' but to temporarily close all of its retail stores until April 22. Premier has also said it won’t pay rent on its stores for a month. “There's no denying that the bushfires, the subdued Christmas sales, the Hong Kong protests and Brexit would have hit some retailers hard,” said Inside Retail’s Ms Hui-Miller. With closures and conversions, almost half of Target’s 284-odd Australian stores are expected to disappear. For them it’s an ominous sign of plunging sales. The company, which has around 146 stores in Australia, appointed KPMG administrators on Wednesday. It’s no secret supermarkets are doing well, but a string of other well-known retailers have seen sales shoot up by 400 per cent or more. The company is temporarily closing all of its stores, which include TJ Maxx, Marshalls, HomeGoods, Sierra, Winners, HomeSense, for the next two weeks in the US, Canada, Europe and Australia… A number of suburban Sydney and regional NSW Target stores will either shut down or convert into Kmarts in the coming months as Target looks to cut costs and protect staff. And with a bit of creativity, you can make these pieces really come alive. Myer announced the closing of three stores across Australia in September 2017. Grocery store and supermarket revenue was $135 billion in 2018, representing a 13.7% growth since 2014. Metcash, which supplies IGA-branded stores, hasn’t traded higher than now since May 2018. Wittner, Saba and Aesop also announced on Thursday they were closing. Target, Myer and David Jones have also announced plans to shutter underperforming stores. Rival Big W has already announced 30 stores will close in the near future. news.com.au — Australia’s leading news site. The luxury chain filed for Chapter 11 bankruptcy in the Southern Court of Texas in May 2020. Its current share price is hovering round the $16.50 mark but last week reached $17.25, its highest since the company reflated on the stock exchange in 2018. Australian economy is riding on $507 billion government stim... China hits back at Australia over Hong Kong joint statement. Over the last couple of years about two dozen chains have collapsed, with the makeup empire of Napoleon Perdis the latest in an increasingly long line of failures. Wesfarmers, which owns both Target and Kmart, said the move was necessary to improve the commercial viability of the business. Image: SuppliedSource:Supplied. A growing number of stores and dretailers have announced they are temporarily closing stores in an effort to prevent the spread of coronavirus. “We’ll be increasing our digital capabilities, so that we can continue to meet growing demand in this space,” it said. He acknowledged that closing Target Country stores could leave some regional areas without a department store. There's a reason why the two largest retailers in Australia are grocery retailing companies. Earlier this week, it was revealed that a popular Best & Less store would be closing its doors - and earlier this year it was confirmed that Big W would close 30 stores due to falling profits. Pier 1 said in January that it planned to close 450, representing about … Pier 1 Imports: 950 stores. It’s easier just to close. On April 19, 2020, Neiman Marcus announced that it would file for bankruptcy. But as coronavirus restrictions have increased, some retailers have decided to pull the pin leaving employees wondering whether they will have a job to go back too. EB Games, Harris Scarfe, Bardot and Curious Planet – formerly known as Australian Geographic – are all closing stores within weeks. Eerie before and after footage of tourism capitals now closed amidst the coronavirus pandemic, Dymocks has seen 400 per cent growth in some categories. RELATED: Follow the latest coronavirus updates, RELATED: 9000 jobs in limbo as Peter Alexander, Just Jeans, Dotti close. Woolworths’ share price of $36.75 may well be down from a high of almost $43.60 in February, but it’s trading higher than just about any time in the last five years. The Australian Retail Outlook 2020, co-produced with Inside Retail offers retailers key insights into the year ahead. “Some are shutting down because their categories aren't necessarily considered essential and customer numbers are down – fashion in particular has been hit pretty hard.”. Find out more about our policy and your choices, including how to opt-out. Eight Target stores permanently closed last year, including in Campbelltown, NSW, Meadow Springs, WA and Pasadena, SA, but there more than 52 outlets expected to be shuttered in 2021. It’ll come as little surprise to learn the supermarkets are doing particularly well as customers queue around the block to crowd into stores. Chico’s has announced that it will be closing up to 250 stores in 2020. The pressure on retailers to remain relevant in the eyes of the consumer have never been stronger. They join Lovisa, Lush, Michael Hill, Colette by Colette Hayman, Hype, Platypus, Athletes Foot, Nike, Apple, Microsoft and others that will close their doors temporarily. No choice. These are the ones changing. SOUTH AUSTRALIA. The renewed focus on online sales has been seen recently, with many retailers … But Ms Hui-Miller said some retailers were doing tremendously well even though what they offered would ordinarily have been considered discretionary. More than 50 Target stores are expected to be closed over the coming months, while dozens will be converted into Kmart outlets in a major retail shake-up. ... QUEENSLAND. Shopping centre staple Premier Investments – whose brands include Smiggle, Peter Alexander, Just Jeans, Jay Jays, Portmans, Jacqui E and Dotti – said yesterday it would temporarily shut up shop due to the outbreak until April 22. Staff at the accessory retailer were told on Thursday that 33 stores in Australia and New Zealand will close over the next three weeks. Like other big chains, Kmart is struggling with an overall slow down in the retail sector. These are the ones changing. Source: SuppliedSource:Supplied. The company also confirmed that the decision would significantly impact staff. Everyone's fallen in love with Kmart's collection of stylish but affordable range of furniture and homewares. Nationwide News Pty Limited Copyright © 2021. Picture: NCA NewsWire/Flavio BrancaleoneSource:News Corp Australia. In early February the share price took a nosedive and is now at just $1.68. And which retailers are making a profit out of the pandemic? Australia Consumer Spending. 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