Shares in South African retailer Woolworths slid to a six-year low on Thursday after it reported a 3.5 billion rand annual post-tax loss, hurt by a hefty write-down on the value of its David Jones business in Australia.
Four global finalists were revealed at the New York semi-final competition for the seventh International Woolmark Prize held. Three Americans and an Australian will join eight Asian and European designers.
I-am-chen from Hong Kong, Angel Chen from China, Yohei Ohno from Japan and Youser from South Korea were on July 6 revealed as the winners of the 2018/19 International Woolmark Prize semi-final for the Asia region.
The problems currently being endured by Australian department store operators have come into even sharper focus as upscale retailer David Jones has axed 16 senior staff with its fashion MD having been terminated
David Jones' new transformation plan could be a major boost for luxury brands in Australia as it grows its luxe offer in key locations and models its revamp on store like Harrods and Galeries Lafayette.
The South African retailer posted a 15% fall in HY1 profit on Thursday hurt by a hefty write-down charge on the value of David Jones in Australia and tough trading conditions in its home market and Australia.