Arab Today, arab today cheer for australian retailers in boxing day sales
Last Updated : GMT 00:31:54
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.

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 Fadi Kataya explains secrets of  Nancy Ajram's newlook
Arab Today, arab today Messi visit will contribute in tourism

GMT 14:04 2017 Friday ,24 February

Messi visit will contribute in tourism
Arab Today, arab today Expresses Algerian history by woody figures

GMT 13:26 2017 Friday ,24 February

Expresses Algerian history by woody figures
Arab Today, arab today Mental conflict endures

GMT 07:36 2017 Friday ,24 February

Mental conflict endures

GMT 21:36 2017 Wednesday ,22 February

Opec needs to prolong cuts to eliminate surplus

GMT 16:32 2017 Wednesday ,22 February

US Treasury chief tells IMF to monitor currencies

GMT 16:08 2017 Wednesday ,22 February

Qatari banks merger to rebalance financial sector

GMT 05:57 2017 Wednesday ,22 February

Britain risks clash with EU over RBS bailout

GMT 05:26 2017 Wednesday ,22 February

Singapore carbon tax would hit refiners, help renewables

GMT 05:18 2017 Wednesday ,22 February

Chinese PM: US should avoid ‘trade war,’

GMT 20:59 2017 Tuesday ,21 February

Economy good, but homes in German cities overpriced
View News in Arabic - Business: نفط وبتروكيماويات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Reading therapy relieves mental disorders

GMT 15:39 2017 Friday ,24 February

Reading therapy relieves mental disorders
Arab Today, arab today UK appoints 1st Scotland Yard chief in 188 years

GMT 05:14 2017 Thursday ,23 February

UK appoints 1st Scotland Yard chief in 188 years
Arab Today, arab today Ex-yoga missionary unleashes rage

GMT 12:16 2017 Thursday ,23 February

Ex-yoga missionary unleashes rage
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today Tesla back into red but revenue grows

GMT 07:27 2017 Thursday ,23 February

Tesla back into red but revenue grows
Arab Today, arab today Nissan enhances sales in most markets

GMT 14:08 2017 Monday ,20 February

Nissan enhances sales in most markets
Arab Today, arab today Wafaa Amer is happy for Sherihan’s return

GMT 07:36 2017 Wednesday ,22 February

Wafaa Amer is happy for Sherihan’s return
Arab Today, arab today Milan laughs while Rome cries

GMT 10:28 2017 Wednesday ,22 February

Milan laughs while Rome cries

GMT 05:19 2017 Tuesday ,21 February

Salma Rashid happy for 'A Whisper of Love'

GMT 12:35 2017 Tuesday ,21 February

63-Year-Old Woman Delivers Baby

GMT 22:42 2017 Thursday ,23 February

Nasima Gamei revives heritage in jewelries

GMT 15:53 2017 Tuesday ,21 February

Small ponds have outsized impact

GMT 20:33 2017 Friday ,17 February

To release new antiques collection

GMT 07:51 2017 Wednesday ,22 February

Mom's immune system accepts babies

GMT 09:59 2017 Monday ,20 February

Tourism shows signs of recovery

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 20:02 2017 Tuesday ,21 February

Nohan Seyam designs beautiful accessories
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