Google Calls Off Third-Party Cookies Deprecation
Power Retail
by Rosalea Catterson
22h ago
In 2020, Google announced plans to stop supporting third-party cookies on Chrome by mid-to-end of 2023, which aimed to give publishers, advertisers and regulators enough time they needed to adapt to the changes. This was further delayed to 2024 due to regulators stepping in to ensure the transition was fair to competitors. Third-party cookies are widely used to track user activity across the web and use that data for personalised advertising.  The rollout began in January with plans to remove third-party cookie support for all its users by the end of 2024.  The plan was to roll out G ..read more
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FY24: “A Time of Transformation” as dusk Reports Sales Slump
Power Retail
by Rosalea Catterson
1d ago
Australian specialty retailer of home fragrance, body care and homewares, dusk Group has reported its unaudited FY24 results. The omnichannel retailer has reported that total sales are expected to finalise at approximately $126.3m. This is a decrease of -8.2 percent on FY23. Underlying EBIT has dropped significantly from last year’s $16.5m, and is expected to finalise in the range of $6.2-$6.4m.  Despite this, things are looking up for the retailer with the second half showing positive sales growth of 0.4 percent for the last five weeks of the financial year. In 2H, total sales were 5.8 p ..read more
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FY24: Universal Store Expecting Strong Sales Growth Results
Power Retail
by Rosalea Catterson
1d ago
ASX-listed specialty retailer of youth casual fashion apparel, Universal Store, has reported a “strong trading performance exiting FY24, with momentum continuing into July 2024”, according to unaudited FY24 results.  Universal Store, which operates a portfolio of premium youth fashion brands, has 102 stores in Australia in addition to online channels and a wholesale operation.  The company expects group sales to be $288.5 million, up 9.7 percent on FY23. Underlying EBIT is expected to finalise in the range of $46 million to $47 million, up from last year’s $40.4 million. The company ..read more
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Global IT Outage Could Cost the Economy Billions
Power Retail
by Rosalea Catterson
2d ago
Friday July 19 has been colloquially dubbed the international Blue Screen of Death Day as a cybersecurity update led to a global IT outage. Microsoft estimates about 8.5 million computers around the world were effected by the CrowdStrike software update that went array. CEO and Founder of CrowdStrike, George Kurtz released the following statement, “I want to sincerely apologize directly to all of you for the outage. All of CrowdStrike understands the gravity and impact of the situation. We quickly identified the issue and deployed a fix, allowing us to focus diligently on restoring customer sy ..read more
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Over 700k Retail Crime Reports in the Past Year
Power Retail
by Rosalea Catterson
2d ago
At the 2024 Retail Crime Symposium held by Australian Retailers Association (ARA) and the National Retail Association (NRA) last week, Auror – the retail crime reporting platform working with 60 percent of Aussie retailers including Coles, Bunnings, and Woolworths – has revealed concerning data confirming shocking retail crime trends.  Almost one in every 10 retail crimes across Australia is violent. Across nearly 700,000 total retail crime events recorded by Australian retailers in the year ending 30 April 2024, 16 percent of all events reported into the platform included threatening or ..read more
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Q&A: Offshore Outsourcing and How it Can Work for You
Power Retail
by Rosalea Catterson
1w ago
I think a lot of people have an outdated idea of what offshore outsourcing looks like. What does it look in 2024? Covid has totally demystified and normalised offshore outsourcing, and that’s been very good for the industry. As the industry has evolved, providers have specialised into specific verticals, niching down into specific markets and we’re seeing different regions or countries becoming well-known for specific skills and solutions. Our specialty is in ecommerce and retail. In 2024, our larger clients are seeking solutions to cater to every department within their business.   ..read more
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The Good Guys Face Federal Court
Power Retail
by Rosalea Catterson
1w ago
Australian retailer The Good Guys has come under fire with the ACCC bringing proceedings before the Federal Court alleging the retailer has made false or misleading representations about their store credit and ‘StoreCash’ promotions, and failing to provide store credit to eligible consumers, in breach of the Australian Consumer Law. According to the allegations, The Good Guys ran 116 promotions between July 2019 and August 2023 in which it offered consumers a store credit or StoreCash if they spent a certain amount of money on qualifying products in its online or physical stores. The ACCC alle ..read more
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1 in 4 SMEs won’t benefit from the Budget
Power Retail
by Rosalea Catterson
2w ago
New figures reveal that 23 percent of small-to-medium-sized businesses won’t benefit from the new Federal Government incentives offered in the 2024-2025 Budget. The research, conducted by business loan comparison platform Small Business Loans Australia, questioned over 200 SME business directors and decision makers to gauge which Budget incentives will help them this financial year, listing the extension of the instant asset write off, the Energy Relief Fund, and the Small Business Debt Helpline and free financial counselling services.  The research highlights that between July 2023 to Ma ..read more
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City Chic Completes Avenue Sale
Power Retail
by Rosalea Catterson
2w ago
Australian retailer City Chic has successfully completed the sale of specialty retailer Avenue, an ecommerce plus-size womens clothing store operating in the United States. Last month, the company announced it had signed a definitive agreement to divest its US based Avenue business to Fullbeauty Brands for US$12 million (approximately A$18 million), subject to working capital adjustments at completion.  City Chic acquired the brand in 2019.  “A huge amount of work has gone into ensuring our business can return to a position of strength,” City Chic CEO Phil Ryan said.  “Through l ..read more
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Federal Court Finds PayPal Using “Unfair” Terms in SME Contracts
Power Retail
by Rosalea Catterson
2w ago
Following a hearing on July 4, the Federal Court has found that PayPal was using an unfair term in contracts with small businesses that allowed PayPal to retain fees that it had charged if the small business failed to notify them of the error within 60 days of the fee appearing on its account statement.  The Australian Securities & Investments Commission (ASIC) initiated court proceedings in September last year. According to ASIC, the court found that, unlike PayPal, small businesses were not placed in a position where they were able to manage the risk of incorrect charging or overcha ..read more
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