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Aussie Fashion Retailer Collapses Amid Cost-of-Living Crisis

Ally Fashion has shut down nearly a third of its stores across the country, with 250 jobs lost. The closures mean 51 retail stores have ceased operating, including 19 in Queensland, 11 in New South Wales, eight in Victoria, seven in South Australia and six in Western Australia. Following an urgent assessment by liquidators, the business will continue to operate in the short term while exploring options for restructuring or sale.

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Cyclone Looms as Aussie Staple Disappears From Shop Shelves Δ1.75

Panic buying has struck supermarkets across South East Queensland amid forecasts of Tropical Cyclone Alfred crossing the east coast, leaving shelves bare of essential items like bottled water, eggs, milk, and bread. Supermarkets are struggling to keep up with demand for these staples, leading some customers to resort to panic buying in preparation for possible supply outages ahead of the category 1 system intensifying off the coast. As the cyclone approaches, residents are being urged to prepare for intense rainfall and damaging winds.

Chinas Deflation Crisis Deepens as Retailers Try to Lure Customers with Discounts Period Δ1.74

China's deflationary economy is intensifying, with the country's consumer price index falling to -0.7% in February, sparking concerns about its impact on growth. As a result, retailers are becoming increasingly desperate to attract customers, with some stores offering flash sales four times a day, including the Wankelai store in Beijing, which sells clothing, snacks, and basic household products. The strategy is driven by consumers who are grappling with uncertainty about jobs and incomes, leading them to seek value-for-money purchases.

Urgent Warning over New Aussie Discount Store After 'Nightmare' Opening: Stop Using Immediately Δ1.74

Panda Mart's rapid rise to popularity has raised concerns about product safety, with hundreds of potentially hazardous items seized by Consumer Affairs Victoria. The regulator has warned shoppers to avoid the store until further notice and return any purchased items for a refund. Authorities have expressed frustration that some products may have been sold despite failing to meet mandatory standards.

Thousands of Australians Without Power as Storm Alfred Lashes Queensland Δ1.72

A significant storm system, downgraded from a tropical cyclone, has left over 316,000 residents in Queensland without power due to damaging winds and heavy rainfall, particularly affecting the Gold Coast. Prime Minister Anthony Albanese has warned of serious conditions, including flash flooding and strong winds, while the Bureau of Meteorology predicts ongoing adverse weather patterns. As recovery efforts begin, the state is assessing the impact on schools and infrastructure, highlighting the community's resilience amidst the challenges.

Global Retailers Plant Flags in U.S. Mall Expansion Δ1.72

Foreign retailers such as Primark, Mango, and Aritzia are rapidly expanding their presence in the U.S., with many new stores opening across the country, including in previously under-represented regions. The U.S. has become an attractive market for international brands due to its large consumer base and relatively resilient spending habits compared to other countries. As a result, global fashion retailers are shifting their focus towards the U.S. market, seeking to capitalize on growing demand and influence.

Australia's Housing Market Ends Downturn as Rate Cut Lifts Sentiment, Corelogic Data Shows Δ1.72

Australia's property market emerged from a shallow downturn in February as the first rate cut in over four years lifted buyer sentiment, although the still-high borrowing costs and elevated prices are clouding the outlook. Figures from property consultant CoreLogic showed prices across the nation rose 0.3% in February from January, ending three months of declines or no growth. The Reserve Bank of Australia has cautioned that any further easing will be gradual, with market pricing suggesting just two more rate cuts to 3.6% by the end of the year.

Co-Op Admits Unlawfully Blocking Rival Store Openings Δ1.71

The Co-op has admitted breaching an order aimed at giving shoppers choice and access to the cheapest prices, blocking rival supermarkets from opening nearby more than 100 times. The UK's competition watchdog found that Co-op had breached an order which limits supermarkets' ability to prevent nearby land being used by rival retailers across England, Scotland, and Wales. This issue affects consumers who struggle to shop around to save money due to limited availability of cheaper options in their local area.

US Small Businesses Cut Jobs in February, Intuit Data Show Δ1.71

Small U.S. businesses significantly reduced employment in February and saw a decline in average revenue, indicating pressure on one vulnerable sector of the economy. The smallest firms shed around 125,000 jobs, with the leisure and hospitality industry experiencing a proportionate drop of nearly 1.3%. This trend may signal economic strain developing among households, particularly those in industries sensitive to consumer discretionary spending.

Cyclone Alfred Stalls Off Australia's East as Millions Brace for Impact Δ1.70

Cyclone Alfred stalled off Australia's east coast on Thursday, with officials shutting down airports, schools, and public transport while residents stockpiled supplies and sandbagged homes against flooding expected when the category-two storm hits. The Bureau of Meteorology revised its landfall forecast to Saturday morning near Brisbane, Australia's third-most populous city, bringing heavy rain, flooding, and damaging wind across the border regions of Queensland and New South Wales. Residents are bracing for a prolonged period of heavy rainfall and life-threatening flash flooding in northern New South Wales.

Abercrombie & Fitch Deepens Retail Gloom with Tepid Forecast, Shares Drop Δ1.70

Abercrombie & Fitch has projected a disappointing annual sales growth of only 3% to 5%, which has led to a significant 14% drop in its share value, reflecting broader retail challenges amidst high inflation. The company cited rising freight costs, increased promotions to clear excess inventory, and the impact of U.S. tariffs as factors contributing to the anticipated decline in margins and demand. Analysts express concerns that the brand's future sales may falter, jeopardizing its full-year targets as consumer spending remains cautious.

US Retailers Publicly Scrap Some 'DEI' Initiatives While Quietly Supporting Others Δ1.69

US retailers are walking a tightrope between publicly scrapping diversity, equity and inclusion programs to avoid potential legal risks while maintaining certain efforts behind the scenes. Despite public rollbacks of DEI initiatives, companies continue to offer financial support for some LGBTQ+ Pride and racial justice events. Retailers have also assured advocacy groups that they will provide internal support for resource groups for underrepresented employees.

Cyclone Alfred Downgraded as Millions of Australians Stay Indoors Δ1.69

Ex-tropical cyclone Alfred has been downgraded to a tropical low as it approaches the southeast Australian coast, providing some relief to Brisbane residents who are expected to avoid the storm's worst impacts. Thousands have evacuated, and significant power outages are reported, along with warnings from officials about severe weather conditions expected to escalate in the coming days. Prime Minister Anthony Albanese highlighted the serious nature of the cyclone's effects, urging citizens to remain indoors as the storm continues to bring strong winds and heavy rainfall.

Hiring Slump Deepens as Bosses Brace for Reeves Tax Raid Δ1.69

Businesses are reducing hiring plans and preparing for layoffs in response to Rachel Reeves's forthcoming £40bn tax increase, which includes hikes to the National Living Wage and National Insurance. A report indicates that demand for permanent roles has dropped for 18 consecutive months, with many firms citing economic uncertainties and rising payroll costs as reasons for scaling back. The anticipated changes are causing widespread concern, particularly among small and medium-sized enterprises, which may face significant financial strain.

US Faces Devastating Losses for Weather Forecasts, Federal Workers Say Δ1.68

The National Oceanic and Atmospheric Administration (NOAA) has canceled leases for research centers and slashed its staff, resulting in "devastating" effects on the agency's operations. The federal agency that produces weather forecasts and leads research on climate and the oceans has plans to lay off around 50 percent of its staff. Current employees are warning that these cuts will have a significant impact on the accuracy and reliability of weather forecasts.

Aldi Announces Biggest Change to Their Business in Their 50-Year History Δ1.68

Aldi is embarking on its largest transformation yet, with plans to open 225 new locations in 2025, marking a significant shift in the discount grocery chain's business model. The company aims to convert over half of these new stores into existing supermarkets, such as Winn-Dixie and Harveys Supermarkets, in the Southeast region. This move is expected to bring about a more streamlined shopping experience for Aldi customers.

Target Faces Near-Term Profit Squeeze From Tariffs, Cautious Spending Δ1.68

Target's forecast full-year comparable sales came below estimates after a discount-driven holiday quarter results beat, and said uncertainty around tariffs as well as consumer spending would weigh on first-quarter profits. The company joined Walmart and Best Buy in raising caution about their expectations for the year as sticky inflation and tariffs temper demand. Target expects comparable sales to be flat in the year through January 2026, compared with analysts' average estimate of 1.86% growth.

Abercrombie & Fitch Stock Hammered by Tariff Concerns — Why More Brutal Warnings Lurk Δ1.68

Investors are grappling with the potential seismic shift in the retail landscape as consumers' spending habits continue to evolve. The company's robust growth over two years has been followed by a disappointing earnings report, highlighting the challenges posed by tariffs on freight costs and consumer spending. Abercrombie & Fitch now expects net sales to grow at a slower pace than previously anticipated.

Turnaround Efforts at Best Buy Face Uncertainty Amid Tariff Concerns Δ1.68

Best Buy is attempting to turn around a three-year decline in sales growth, but the Street is not convinced the results are coming just yet. Same-store sales is estimated to decrease 1.45% "as a result of macroeconomic stress on spending for discretionary goods, especially big-ticket items," according to Telsey Advisory Group's Joe Feldman. This would be the 13th consecutive quarter of negative same-store sales growth.

Gap Crushes 4th Quarter Estimates and Signals It Could Beat Trump Tariffs Δ1.68

Gap has exceeded fourth-quarter profit expectations, indicating a strong outlook for 2025 despite challenges posed by tariffs and environmental factors. The company has shown progress in its turnaround strategy, particularly under the leadership of designer Zac Posen, which has revitalized its marketing and product offerings. With diversification in sourcing and positive same-store sales trends across its brands, Gap appears well-positioned for growth in the competitive retail landscape.

Cutting Foreign Aid Won't Fix Defence Spending Woes Δ1.68

Anneliese Dodds' resignation follows PM Starmer's slashing of foreign aid budget to boost defence spending. The UK's international development minister had criticized the move, stating it would harm British influence abroad and devastate those relying on aid. The cuts will now take effect, reducing Britain's overseas development budget from 0.5% to 0.3% of GDP.

Abercrombie & Fitch Stock Gets Pummeled as Retailer Predicts Trump Tariff Hit Δ1.68

Abercrombie & Fitch's shares plummeted more than 16% in early trading on Wednesday, as the company's holiday quarter sales results at its namesake division came in lower than estimates. The company's 2025 guidance also indicated marked slowdowns in sales growth and operating margin expansion, with up to 100 basis points of year-over-year margin pressure potentially tied to Trump tariffs. This move underscores the growing concern among investors about the impact of tariffs on retail stocks.

Australians Abandon Health Insurance Due to Rising Costs Δ1.68

Millions of Australians are planning to cancel their health insurance policies due to rising premiums, with an estimated 3.3 million people considering ditching their cover. The average cost of a mid-range hospital policy is expected to increase by $72 per year, with some insurers hiking prices much higher than the average rate. Canceling health insurance can result in significant out-of-pocket costs and limited access to essential services.

Albertsons Appoints Insider to Top Role as CEO Vivek Sankaran to Retire Δ1.68

Albertsons has announced the retirement of CEO Vivek Sankaran, with Susan Morris, the current COO, set to take over the role on May 1. This leadership transition follows the supermarket chain's recent challenges, including a failed merger with Kroger, and marks a strategic shift towards enhancing digital sales and retail media initiatives. As Morris steps into the CEO position, she will also be responsible for executing the company's "Customers for Life" strategy aimed at improving customer retention through loyalty programs and personalized experiences.

ASX Shakes Off Tariff Fears Δ1.68

The Australian share market has been boosted on Monday from strong figures out of China and a resilient Wall Street, with all 11 sectors finishing in the green. The benchmark ASX200 index jumped 73.30 points or 0.9 per cent to close at 8245.70 points, as investors took up new month positions and factored in stronger than expected manufacturing data. The broader All Ordinaries finished 74.90 points higher or 0.9 per cent to 8478.80.

Tariffs and Weak Guidance Sink Macy's Earnings Δ1.68

Macy's reported weaker-than-expected sales growth in its fourth quarter, despite beating analyst estimates for earnings per share. The company cited external uncertainties, including tariffs and unseasonable weather, as factors contributing to the softer performance. Investors are now focused on guidance for 2025, which is projected to be lower than last year.