Retail

Creditors have opted to liquidate Perth Fashion Festival today, just days after festival director Tony Sage failed to sell down his Perth Glory soccer club stake; while the administrators had been unable to recover a debt owed to the company by industry body the Fashion Council WA.

Wesfarmers has sold $1.1 billion of Coles shares, reducing its holdings of the supermarket chain to 10 per cent, while revealing $24 million of payroll problems during its half-yearly results released today.

There are concerns the share market’s strength doesn’t accurately reflect the nation’s economic performance, or outlook.

What Christmas gave to Australian retailers, the bushfires are taking away, but there could be worse to come for shopkeepers and shopping centre owners when the latest international trends wash up here.

Kardinya’s $100 million new town centre is proposed to include a 12-storey apartment building and a redeveloped shopping centre and entertainment precinct, under plans lodged for approval this week.

Cottesloe’s Napoleon Street is the best performing retail strip in Perth, according to new research by Ray White, with vacancy dropping from 6.9 per cent to zero in two years to September 2019, while Subiaco, Leederville and Mt Lawley have had big increases.

Profit has more than tripled at one of Western Australia’s most prominent family businesses, which controls the Spudshed chain of retail stores.

Thomas Building has secured works at the $17 million Tambrey Shopping Centre - the first major retail development in Karratha in two decades - and been contracted to build the $6 million Kalgoorlie Renal Hostel.

Coventry Village in Morley has joined the list of Perth shopping centres to go solar, with the installation of a new 1.3-megawatt solar power system.