While Myer continues to roll-out its five point strategy, David Jones has narrowed its future plans down to a ‘three point strategy’ after the company reported a 19.6 per cent shrinkage in half-year profits.
While sales soared 15.4 per cent to NZ$146.7 million, Kathmandu's net profit after tax is down to nearly half of what it was this same period last year.
Myer continues to make good progress adapting itself to the changing retail environment but it hasn't been enough to help the company's half-year earnings where NPAT was down 19.8 per cent.
As Billabong continues to swim in deep waters after reporting an earnings slump in its half year results, rejecting TPG's offer to buy half of its assets and the decision to close stores, its US operation continues to remain strong.
Woolworths’ net profit after tax has dropped more than 16 per cent to $966.9 million, as a result of the Dick Smith restructure but said there are plans for future grwoth in the home improvement market.
Harvey Norman has released its financial results for the second half of 2011, posting a decline in total sales across the company of 6.1 per cent.
ParraConnect Advisory Committee has launched the country’s first digital eco-system initiative called the ConnectCard project, which is set to revolutionise the way business is carried out in Sydney’s Parramatta.
Challenging times continue to affect David Jones after it reported that first half year sales for the 2012 financial year were down 6.6 per cent by $1.01 million on the same period last year.
The company responsible for stores including The Athlete’s Foot and Shoe Superstore reported EBITDA rose 5.8 per cent from $5.43 million to $5.75 million for the six months to 25 December 2011.
Specialty Fashion group continues to pursue its business online as it targets to close up to 120 stores over the next three years.