The building has sold,but the iconic department store that occupies the Bourke Street Mall site isn’t leaving as it has an 18-year lease.
While rugby league remains in the margins.
David Jones donates 3000 pieces including Dior accessories to join Queen Elizabeth’s menu at the Powerhouse Museum.
Australia’s department store chains have been reducing floor space since 2017,but experts believe they’re not done yet as consumer habits evolve.
It is probably no accident that news about McInnes joining billionaire Brett Blundy’s retail empire coincided with a 3.5 per cent fall in Myer’s share price where his former boss,Solomon Lew,is a key shareholder.
Shoppers will spend $1.25 billion on “unprecedented” deals as retailers look to clear and refresh stock,says the Australian Retailers Association.
Gen Z shoppers weren’t tempted by Black Friday discounts at all,while others switched from department store luxuries to essentials at discount barns.
The retail behemoth survived COVID-19 and bounced back to profit. As senior executives prepare to leave,the 123-year-old retailer faces its next challenge.
The department store operator is removing the role of assistant sales manager as its new private equity owner,Anchorage Capital,looks to streamline operations.
Living costs are making trading conditions tough,but the boss of DJs hopes the consumer outlook will lighten.