Retail

Wesfarmers has disclosed that nearly every part of its business has been affected by COVID-19, with Bunnings and Officeworks doing better while Target is suffering.

After going into liquidation in February, Kosmic Sound has been saved by South Australian business Dale Cleves Music Group, shortly after another iconic WA brand Jeanswest was also rescued.

High-end jewellery store Tiffany & Co has opened at Raine Square, the third of four luxury brands to shift from King Street to one of Perth’s newest shopping destinations.

Creditors have opted to liquidate Perth Fashion Festival today, just days after festival director Tony Sage failed to sell down his Perth Glory soccer club stake; while the administrators had been unable to recover a debt owed to the company by industry body the Fashion Council WA.

Wesfarmers has sold $1.1 billion of Coles shares, reducing its holdings of the supermarket chain to 10 per cent, while revealing $24 million of payroll problems during its half-yearly results released today.

There are concerns the share market’s strength doesn’t accurately reflect the nation’s economic performance, or outlook.

What Christmas gave to Australian retailers, the bushfires are taking away, but there could be worse to come for shopkeepers and shopping centre owners when the latest international trends wash up here.

Kardinya’s $100 million new town centre is proposed to include a 12-storey apartment building and a redeveloped shopping centre and entertainment precinct, under plans lodged for approval this week.

Cottesloe’s Napoleon Street is the best performing retail strip in Perth, according to new research by Ray White, with vacancy dropping from 6.9 per cent to zero in two years to September 2019, while Subiaco, Leederville and Mt Lawley have had big increases.