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Financial

Pricewise chain rescued by former CEO, shareholder
A Pricewise store in Auckland.

Pricewise chain rescued by former CEO, shareholder

Collapsed health-and-beauty retailer Pricewise has been rescued from receivership by an investment group led by CEO Craig Robertson.  The 16-store strong retailer’s parent company Price Wise Ltd and si...
Beauty companies The Six Senses and Pure Beauty in trans-Tasman merger
Premier Retail looking to exit 350 stores in Australia and New Zealand
Card spending slumps due to lockdowns
Kathmandu profit plummets as customers stay inside

Financial Archives

Glassons fashion

Online boost helps Hallenstein Glasson emerge from Covid-19 unscathed

Strong online sales helped clothing retailer Hallenstein Glasson minimise the impact of the Covid-19 pandemic, the compa...

Premier Retail looking to exit 350 stores in Australia and New Zealand

Despite delivering a 29 per cent growth in net profit to AU$137.8 million for FY20, Premier Investments is looking to ex...

Kathmandu profit plummets as customers stay inside

Lockdown restrictions enacted during FY20 hit many clothing retailers hard, and Kathmandu is no exception.
Hand washing

Beauty companies The Six Senses and Pure Beauty in trans-Tasman merger

New Zealand beauty & fragrance firm The Six Senses has merged with Pure Beauty Australia in a non-financial transaction.

Zara parent posts US$229m first-half loss despite second quarter rebound

Zara-owner Inditex saw a net loss of $315 million (€195 million) during the six months to 31 July, after a successful se...
Shopping from car during Covid

Card spending slumps due to lockdowns

Lower card spending was recorded in Auckland during August, brought on by heightened coronavirus alert levels within the...
Pricewise store

Pricewise chain rescued by former CEO, shareholder

Health-and-beauty retailer Pricewise has been bought out of receivership by a previous shareholder and the company's CEO...
Spending on card

Tourism restrictions affect Otago, Southland retail spending in August

Retail spending in Auckland fell 42 per cent in the week to August 30, the last week of Level 3 restrictions.
Sustainability

From the source: Patrick Schmidt, Global Fashion Group

Schmidt shares how the pandemic accelerated Global Fashion Group's plans, its focus on sustainability and ethical supply...

A quarter of NZ retailers ‘on knife edge’ after latest lockdown ‘hammering’

Nearly one in four New Zealand retailers are “on a knife edge” in the wake of the Covid-19 lockdowns according to resear...
A tourist in New Zealand

Student, traveller spending plunges in June quarter

With borders all-but closed to non-New Zealanders, spending by students and foreign visitors fell by half in the June qu...

Coca-Cola Amatil takes a stake in Centrapay

Coca-Cola Amatil’s corporate venture investment fund Amatil X has invested in the digital asset payment platform Centrap...

Gap Inc to close 225+ stores globally as sales continue to decline

Struggling US apparel retailer Gap Inc has revealed plans to shutter more than 225 stores globally this year with anothe...

Harvey Norman posts nearly 20 per cent increase in full-year profit

Furniture chain benefits from people upgrading their homes during lockdown.

City Chic says early part of FY21 results look positive

Clothing retailer announced it plans to continue expansion of lifestyles and categories online.

Quick shift online helps Accent Group maintain momentum

The company behind Platypus and Hype DC saw an uptick in both sales and profit despite store closures in FY20.

Taco Bell continues expansion with Menulog partnership

In an effort to further broaden its reach quick-service business Taco Bell unveils new delivery partnership.
Image of Pricewise

Pricewise enters receivership, founders fired

The 16-store chain will continue to trade in receivership while expressions of interest are sought.

Retail sales suffer biggest blow in 25 years

Retail sales fell 15 per cent during the June quarter, according to StatsNZ.

Lush tells Auckland staff it can’t keep them paid through Level 3

Impacted staff will need to use annual leave payments to remain paid through lockdown.