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Puma plans job cuts as US demand weakens, outlook dims

Inside Retail

Puma on Wednesday announced job cuts and warned of uncertain US consumer demand as the German sportswear group’s shares slumped 23 per cent in the wake of disappointing quarterly and annual forecasts issued a day earlier. at 1246 GMT, a level not seen since November 2016. “February was bad.

Planning 130
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Two Australian furniture chains set for sale

Inside Retail

Quadrant later became a co-owner before taking full control of Amart in 2016. The move comes after the company sold its premium pet food company Prime100 to American consumer goods giant Colgate-Palmolive last month. Ironbridge Capital bought the chain for $500 million in 2006.

Planning 200
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Liquor Loot collapses into administration amid cash flow problems 

Inside Retail

Spring added he plans to trade the business through the administration process and is optimistic about the future of the company. Founded in 2016 by Joel Hauer, Liquor Loot offers subscription boxes and tasking packs that allow customers to try new spirits without having to purchase a full-sized bottle.

Flow 279
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Farm Rio CEO Fabio Barreto on how the brand’s bold approach is winning customers

Inside Retail

The brand has no plans to stop there. But what is behind the US consumers love for this Brazilian brand? The brand opened its first US store in 2019 with a flagship at 113 Prince Street in Manhattans SoHo district, right before retailers and consumers lives changed drastically.

Fashion 130
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Townsville’s Fairfield Homemaker Centre reinvents as lifestyle destination

Inside Retail

Geon Property plans to rebrand Fairfield Homemaker Centre as Fairfield & Co, a new destination for shopping, entertainment and amusement. Thanks to the emergence of Gen Z, the company’s initial 2016 launch as a typical retail centre has been replaced by a landmark shopping and entertainment experience for all ages, he said.

Shopping 246
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Telstra fined $50m for unconscionable conduct toward Indigenous Australians

Inside Retail

Telstra has been hit with the second-biggest fine in Australian history, $50 million, for engaging in unconscionable conduct against more than 100 Indigenous customers across Australia between 2016 and 2018.

Consumer 217
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Yum China’s winning formula: Lower-tier cities as key markets

Inside Retail

Despite a challenging environment and value-minded consumers, our efforts have led to eight consecutive quarters of positive transaction growth, Wat added. Yum China, which spun off from Yum Brands in 2016, operates six restaurant chains in about 2200 towns and cities in China, employing around 400,000 people.

Marketing 130