Arab Today, arab today cheer for australian retailers in boxing day sales
Last Updated : GMT 21:32:21
Arab Today, arab today
Arab Today, arab today

Cheer for Australian retailers in Boxing Day sales

Arab Today, arab today

Arab Today, arab today Cheer for Australian retailers in Boxing Day sales

Sydney - AFP

Tens of thousands of Australian shoppers hit department stores Monday for the annual Boxing Day sales, with ailing retailers hoping to ring up Aus$1.7 billion (US$1.73 billion) in purchases. Australia's resources-driven economy is not in recession and boasts low unemployment but with uncertainty growing Australians have become much more conservative consumers, saving at a rate not seen for 20 years. After a dismal year in retail and a disappointing lead-up to Christmas, in which cold and rainy weather hurt summer fashion turnover, storekeepers were hoping from a boost from the traditional bargain sales. "We're anticipating that the spend today alone will be somewhere in the vicinity of Aus$1.7 billion," chief executive of the Australian National Retailers Association Margy Osmond told ABC TV. Over the week, consumers are expected to spend Aus$5.5 billion, she said. Hundreds of people waited in pre-dawn darkness outside David Jones and Myer department stores in Melbourne and Sydney which opened at 5:00am Monday, while shopping precincts were swarming with crowds hunting for bargains. Australians failed to spend big in November and December, despite interest rate cuts in those months bringing relief to mortgage holders, while the high Aussie dollar has also hurt retailers. But on Monday shoppers snapped up electrical items, homewares and new clothes, and younger consumers hunted for heavily discounted designer fashion items. Retailers view Boxing Day sales as an important indicator of the coming year and the chief executive of David Jones, Paul Zahra, said early indications were that the sales had brought out as many people as last year. "It's pleasing given the tough start to the retail sector this season," he said. But Osmond warned: "We can't mislead ourselves. This is not necessarily going to be enough to spell any kind of recovery for the retail sector who will be moving into their most difficult time of the year, which is the first quarter." In September Australia's top-end department store David Jones reported full-year net profits dropped 1.5 percent, as it warned of difficult trading conditions amid the retail slump.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today cheer for australian retailers in boxing day sales Arab Today, arab today cheer for australian retailers in boxing day sales

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today cheer for australian retailers in boxing day sales Arab Today, arab today cheer for australian retailers in boxing day sales

 



Arab Today, arab today
Arab Today, arab today Designer Aql Faqih aspires to innovation

GMT 18:41 2017 Friday ,20 October

Designer Aql Faqih aspires to innovation
Arab Today, arab today Barcelona through George Orwell’s eyes

GMT 13:44 2017 Friday ,20 October

Barcelona through George Orwell’s eyes
Arab Today, arab today Etiquette expert underlines importance of gifts

GMT 17:52 2017 Sunday ,03 September

Etiquette expert underlines importance of gifts
Arab Today, arab today Tillerson heads to Gulf, downbeat

GMT 09:23 2017 Friday ,20 October

Tillerson heads to Gulf, downbeat
Arab Today, arab today Hiring not part of Alibaba pledge

GMT 11:26 2017 Wednesday ,18 October

Hiring not part of Alibaba pledge
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today World's deepest lake in peril

GMT 15:54 2017 Friday ,20 October

World's deepest lake in peril
Arab Today, arab today Ex-French minister Dati wants tough action

GMT 10:54 2017 Thursday ,19 October

Ex-French minister Dati wants tough action
Arab Today, arab today Delhi braces for pollution 'airpocalypse'

GMT 16:07 2017 Friday ,20 October

Delhi braces for pollution 'airpocalypse'
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today Sweden to get biggest car factory

GMT 14:10 2017 Friday ,20 October

Sweden to get biggest car factory
Arab Today, arab today Mercedes says recalls 400,000 UK cars

GMT 06:56 2017 Tuesday ,17 October

Mercedes says recalls 400,000 UK cars
Arab Today, arab today Actress Shery Adel happy for Egypt’s qualification

GMT 08:57 2017 Wednesday ,18 October

Actress Shery Adel happy for Egypt’s qualification
Arab Today, arab today Massacre fears spark race

GMT 19:09 2017 Thursday ,19 October

Massacre fears spark race

GMT 07:47 2017 Tuesday ,17 October

Hussein Fahmy happy for honoring in festival

GMT 18:15 2017 Monday ,16 October

British actress becomes fifth woman

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam

GMT 16:00 2017 Wednesday ,18 October

Climate-disrupting volcanoes helped topple

GMT 10:46 2017 Saturday ,05 August

Nanis reveals simple ideas for home renovation

GMT 06:43 2017 Wednesday ,18 October

Fake dentists ply brisk trade

GMT 06:49 2017 Tuesday ,17 October

EasyJet, Lufthansa among seven to bid

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 20:46 2017 Thursday ,19 October

Qualcomm files lawsuits in China to ban iPhones

GMT 16:53 2017 Saturday ,02 September

Mai importance of gifts during Eid Al-Adha
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday