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Shrinkflation has driven the government to strengthen the unit pricing code to help Aussies get accurate pricing in supermarkets and retail stores. The updated regulations will also introduce substantial penalties for stores that breach the code. Shrinkflation is when product sizes decrease while prices remain the same or increase. It is mainly used to take advantage of consumers who are unaware of the not so obvious changes.
The situation with the ILA has escalated as dockworkers on the U.S. East and Gulf Coasts launched their first major strike in nearly 50 years on Tuesday, halting around half of the nation's ocean shipping.
As state, sector and international privacy laws get passed with increasing frequency, more companies are adopting cookie consent banners. This is in order to comply with requirements of these laws to obtain user permission or provide opt-out options for data sales. However, many who think they’re compliant after implementing a consent management platform (CMP) are often finding that they are not covered as well as they thought they were.
Tesco has raised its profit guidance for the year after posting a 10% rise in first-half profit. The supermarket giant now expects to deliver around £2.9bn in retail adjusted operating profit, up from its previous forecast of “at least £2.8 bn” Tesco’s retail adjusted operating profit hit £1.56bn, up 10% on the previous year while sales grew 4% to £31.5bn over the half year to August 24.
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When searching for a specific item, the right combination of keywords to describe what you’re looking for can sometimes escape you. And other times, you may define and describe something completely differently than another person. Couple these realities with the fact that humans are largely visual animals and it’s no surprise that visual search is becoming increasingly popular for all kinds of queries, especially for those that are shopping related.
Mosaic Brands will “wind down” five of its brands to focus on its other five businesses as it struggles to remain afloat due to operational issues. The brands to be wound down are Rockmans, Autograph, Crossroads, W Lane and BeMe, as part of what Mosaic Brands CEO Erica Berchtold calls a Focus on Core plan. This will allow the company to capitalise and invest in Millers, Noni B, Rivers, Katies, and its standalone online Mosaic marketplace. “Each of those core brands will have a
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A new report threatens to leave a stain on McDonald's good name, as it was revealed that a franchisee engaged in human trafficking involving what the arrest report is calling "modern slavery.
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It seems that every retailer has a loyalty program these days. Because of this, their universality is raising the bar. To capture customers’ attention, it’s no longer enough just to offer discounts or a points system. Instead, retailers need to craft loyalty programs that are easy to access, include uncommon or unexpected benefits and make a meaningful connection with shoppers.
High-end grocer The Essential Ingredient has collapsed into administration after failing to recover from the impacts of the Covid pandemic. PwC, which has been appointed as administrator, will keep the gourmet grocer’s stores open as it seeks a buyer, the Australian Financial Review reported. “The legacy of stock losses during the Covid closure and higher operating costs has all taken a toll on profitability,” said Robert Ditrich from PwC.
Your financial statements hold powerful insights—but are you truly paying attention? Many finance professionals focus on the income statement while overlooking key signals hidden in the balance sheet and cash flow statement. Understanding these numbers can unlock smarter decision-making, uncover risks, and drive long-term success. Join David Worrell, accomplished CFO, finance expert, and author, for an engaging, nontraditional take on reading financial statements.
Supermodel Heidi Klum has launched Modelverse , a new digital fashion experience in Roblox. Developed in partnership with Supersocial , a creative studio that specializes in virtual world development, Modelverse gives gamers the chance to model in exclusive events inspired by VIP gatherings including award shows, high-fashion events and Klum’s renowned annual Halloween party.
Despite retail sales growing in August, businesses are still urging the Reserve Bank of Australia to cut interest rates to help the sector thrive through the holiday season. According to the Australian Bureau of Statistics (ABS), retail turnover increased 3.1 per cent year over year to $36.48 billion in August, attributed to the shift in weather pattern. “This year was the warmest August on record since 1910, which saw more spending on items typically purchased in spring,” said Rober
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Mall operator Simon has unveiled its Meet Me @themall campaign, blending ’80s and ’90s nostalgia to capture Gen Z’s enthusiasm for in-person shopping and all things retro. The campaign is now live on premium streaming services including Netflix, Peacock, Hulu and Disney+ as well as on Instagram, YouTube, TikTok , Simon’s owned channels and in its shopping centers across the U.S.
Angus McDonald, CEO of BBQ retailer Barbeques Galore, will step down from the role at the end of this year for undisclosed reasons. “I am proud of the progress we have made in the capability, engagement, and career development of our team and our franchisees,” McDonald wrote in a LinkedIn post announcing his decision. “It has been a great honour and privilege to be able to contribute in some way to the growth and development of so many careers during this time.
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Apparel brands Lacoste and Dickies have appointed Accent Group as their exclusive distributor in Australia and New Zealand. Both brands are sold in ANZ through direct-to-consumer, online and owned stores, and via wholesale channels. Accent sells Lacoste under many of its multi-brand umbrellas, including Hype DC, Platypus, Stylerunner, and Glue. The group expects to begin distributing Lacoste next year, following a transition phase with the current distributor.
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