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Business

Retail

Retail

DJs boss warns Woolworths of Lew threat

David Jones

Sue Mitchell David Jones chairman Gordon Cairns says South African retailer Woolworths should be assessing Solomon Lew's next move - which may include an offer for Myer - rather than waiting to see whether he accepts a $213 million offer for Country Road.

Retail

Hointer: How a mathematician got micro-robots to sell you jeans

Hointer CEO Nadia Shouraboura.

Sue Mitchell 4:08pm Nadia Shouraboura’s mathematician parents were disappointed she pursued a career in retail rather than academia, but the former Amazon executive may hold the keys to success for bricks and mortar retailers in a digital age.

Retail

David Jones chairman Gordon Cairns never in doubt over Woolworths takeover

David Jones chairman Gordon Cairns (left) with CEO Paul Zahra.

Sue Mitchell 2:57pm David Jones chairman Gordon Cairns has revealed that South African retailer Woolworths would have “walked away” from a $2.2 billion takeover proposal for Australia’s oldest department store, but says he never had serious doubts the deal would not happen.

Expansion

Thai takeaway delivers for Melbourne couple

Konfir Kabo and Monica Lim

Michael Bleby 9:01am Agricultural giant Charoen Pokphand Foods, Thailand’s fifth-largest company by revenue, has partnered with a husband-and-wife team owning just two Melbourne noodle bars to roll out a chain of quick-service Thai restaurants that it plans to expand into a chain of 100 nationally within five years.

Retail

Metcash boss warns on excessive market power of Coles and Woolworths

‘’I don’t know where you stop these guys. How big do they need to get?

ELI GREENBLAT 1:09pm Metcash supermarkets boss warns that aggressive push by Coles and Woolworths into financial services could negatively impact competition in the retail sector

Takeovers

SA Woolworths' 'premium' offer for Country Road may not woo Solomon Lew

Country Road

Sue Mitchell Independent experts have declared that South African retailer Woolworths is paying a premium to take full control of Country Road, but it may not be enough to convince Solomon Lew to sell his 11.8 per cent stake.

Retail

Woolworths pays premium for Solomon Lew’s Country Road stake

Woolworths' offer seems to have finally ended Solomon Lew's 17-year battle feud over Country Road.

Sue Mitchell An independent expert has confirmed that South African retailer Woolworths is paying a premium to take full control of Country Road and buy out Solomon Lew, who threatened to block its $2.2 billion acquisition of David Jones.

Retail

Retail entrepreneur goes from bras to beef

Brett Blundy.

JARED LYNCH Brett Blundy, whose portfolio of brands includes Bras N Things, is expanding his beef operations.

Retail

David Jones to get with the private label program

window display

ELI GREENBLAT Shoppers can expect a hungrier, leaner and smarter David Jones under Woolworths' ownership.

Free groceries as glitch strikes Woolworths stores

Woolworths

MICHAEL KOZIOL Woolworths stores hit by glitch causing items to scan for free.

Retail

Federal Court approves David Jones takeover bid after last minute hiccup

The $2.2 billion takeover of David Jones has hit another speed bump.

Sue Mitchell The Federal Court has approved South African retail giant Woolworths’ $2.2 billion takeover of David Jones, but not before a dramatic last-minute intervention from the Australian and Securities and Investments Commission.

Wagering

Tom Waterhouse takes the helm at William Hill

Taking charge: Sources said local management was informed of the appointment on Wednesday evening.

Jessica Gardner and Sarah Thompson Controversial bookmaker Tom Waterhouse has been appointed chief executive officer of the Australian operations of British wagering giant William Hill, giving him control of Sportingbet and Centrebet, as well as his eponymous online betting shop.

Retail

Move over Aldi, more discount supermarkets could be on the way

Netto is one of the European supermarket chains that could be eyeing Australia.

Sue Mitchell Discount grocer Aldi may soon be facing competition from cut-price European rivals.

Property

Population growth 'driving retail centre expansion' in Melbourne, Geelong

An artist's impression of the 47,000-square-metre redevelopment planned by QIC at Eastland shopping centre at Ringwood

Nicole Lindsay Population growth is driving continued retail development across Melbourne and Geelong with around 250,000 square metres of space expected to be completed in the next two years.

Another hurdle cleared in Solomon Lew's DJs race

Elizabeth Knight Dinkus

ELIZABETH KNIGHT Billionaire rag trader Solomon Lew is agonisingly close to being swamped with more than $400 million in cash.

Takeovers

David Jones shareholders back Woolworths

David Jones chairman  Gordon Cairns and CEO Paul Zahra

Sue Mitchell After almost 20 years being a thorn in the side of South African retailer Woolworths, rag trader Solomon Lew may have finally done his arch- enemy a favour.

M&A

David Jones shareholders back Woolworths Holdings' $2.2 billion takeover offer

David Jones shareholders have voted to accept the takeover off from South Africa's Woolworths Holdings.

Sue Mitchell David Jones is a step closer to being a foreign-owned company, with its shareholders overwhelmingly approving South African retailer Woolworths’ $2.2 billion takeover.

Retail

David Jones' fate hangs in the balance as Lew mulls takeover deal

DJS

Sue Mitchell DJs expecting overwhelming support from minority shareholders on South African Woolworths' $2.2 billion offer, but will not know until a court hearing later this week whether the takeover will proceed.

Retail

Myer patches up management ranks after Andrew Flanagan farce

bag

Sue Mitchell Department store chain Myer has moved fast to fill a gap in its management ranks after sacking Andrew Flanagan after just one day in the job.

Retail

'I failed': Jan Cameron rules out new Retail Adventures tilt

Jan Cameron has all but ruled out reviving her Retail Adventures business.

Sue Mitchell Kathmandu founder Jan Cameron has virtually ruled out a second attempt to regain control of her discount retail empire, saying “I failed and have paid the price for that failure”.

Woolworths takeover of David Jones a corporate chess game

Elizabeth Knight dinkus

ELIZABETH KNIGHT Time's up for Solomon Lew if he wants to throw a precisely placed grenade at Woolworths of South Africa's $2.2 billion takeover of David Jones.

Retail

Reject Shop has high hopes of new boss

The Reject Shop

Sue Mitchell The Reject Shop's incoming chief executive, Ross Sudano, is expected to review the discount retailer's aggressive expansion plans, product range and digital offer when he takes the helm in September.

Retail

Reject Shop names Ross Sudano as new chief replacing Chris Bryce

The Reject Shop is facing stiff competition from the likes of Kmart and Big W as well as new players like Japan's Daiso.

Sue Mitchell Discount variety retailer The Reject Shop has appointed a former beer and grocery industry executive, Ross Sudano, as chief executive.

Retail

DJs chases investors for support

David jones sign with shadows

ERIC JOHNSTON David Jones reaches to its small shareholders, seeking support for the acquisition by Woolworths.

Retail

David Jones seeks to fend off further ASIC intervention in Woolworths takeover

The corporate watchdog is doing more harm than good for shareholders by holding up Woolworths' $2.2 billion takeover, David Jones argues.

Sue Mitchell While the Australian Securities and Investments Commission believes it is protecting the interests of David Jones shareholders by intervening in Woolworths' $2.2 billion takeover, investors believe otherwise.

Takeover

ASIC not finished with David Jones battle

shopping

Sue Mitchell ASIC is looking at several other options to protect the interests of David Jones shareholders.

Data

May retail sales fall short with 0.5% drop

Retail sales fell in May, falling short of a prediction of flat sales for the month.

Australian retail spending fell 0.5 per cent in May, official figures show.

Wesfarmers not giving up on family

Elizabeth Knight Dinkus

ELIZABETH KNIGHT Wesfarmers boss Richard Goyder has two problem children in Target and the Coles liquor division.

ASIC steps into David Jones, Country Road battles with demand for independent valuation

Country Road has been the subject of a 17-year feud between billionaire Solomon Lew and South Africa's Woolworths Holdings

Sue Mitchell The Australian Securities and Investment Commission has sensationally intervened in Woolworths $2.2 billion takeover of David Jones and $213 million mop up offer for Country Road, demanding an independent experts valuation of the “collateral benefit” that it believes it will flow to rag-trader Solomon Lew.

Beverages

Shareholder class action filed against Treasury Wine over US writedowns

Treasury Wine Estates, which owns brands including Penfolds, faces legal action from shareholders over its disclosure of writedowns for its US business last year.

Simon Evans Legal firm Maurice Blackburn lodged documents in the Federal Court on Wednesday to begin a class-action lawsuit against Treasury Wine Estates. The legal action is on behalf of more than 600 shareholders over what the firm claims was a late disclosure of heavy writedowns relating to its United States business in 2013.

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Small Business

Here come the taxi app wars

Adam Courtenay

Uber might have captured the media's attention but it's not the only outfit going for a slice of the cab market.

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