Retail

Consumer group makes ‘super’ complaint to ACCC after investigation found dangerous items on platforms such as eBay, Amazon and AliExpressGet our breaking news email, free app or daily news podcastCigarette lighters that look like toys, gel blasters, flick knives and fake tongue studs are among the “frightening” number of unsafe and potentially banned products being sold to Australians on online marketplaces, a Choice investigation has found.After identifying the products, Choice on Wednesday formally asked the Australian Competition and Consumer Commission (ACCC) to take action against the retailers and begin a review of the country’s product safety laws more generally. Continue reading...

OurCoop criticised by members after withholding annual profit-share payment despite soaring executive payOurCoop, the independent mutual which runs about 500 food stores across England, is facing criticism from members after it more than tripled the boss’s pay to £2.2m despite falling sales and profits.The chain, which is a separate company from the Co-op Group but relies on the much bigger business to supply some products, has not approved an annual profit-share payment to members this year, although they have received discounts on shopping. Continue reading...

• South Korea is launching its first single-stock leveraged ETFs linked to semiconductor giants Samsung Electronics and SK Hynix to capitalize on the global AI boom. • These high-risk, high-reward products allow retail investors to amplify gains from chipmakers, which have helped the Kospi benchmark more than triple since the end of 2024. • Market analysts warn that these funds may exacerbate price volatility, as issuers must rapidly trade assets to maintain specific leverage ratios.

Research shows cost of crime for each affected business was on average £83,000 in past yearNine in 10 retailers based in rural locations have been victims of crime in the past 12 months, according to research, underlining the widespread impact of the rise in shoplifting and theft even in more remote parts of the UK.Rural retailers include farm shops as well as stores selling machinery and other equipment. The financial cost of crime for each affected retailer was on average £83,000 during the past year, according to a survey carried out by the commercial insurer NFU Mutual. Meanwhile, one in 20 victims said crime had cost them more than half a million pounds. Continue reading...

Everlane CEO confirms sale in letter to employees and says it will stay true to ‘sustainability’ commitmentsEverlane, the retailer that bucked the fast-fashion industry by promising affordable ethically sourced and sustainable clothing, is being acquired by the king of fast-fashion, China’s Shein.A letter to Everlane employees from CEO Alfred Chang confirming the deal was obtained by the Associated Press on Friday. Continue reading...

Exclusive: With warnings world oil supplies are expected to hit ‘red zone’ by August, the Albanese government has outlined its powers to enforce daily purchase limits for motoristsGet our breaking news email, free app or daily news podcastThe federal government has outlined plans for retail fuel rationing, documents reveal, as the International Energy Agency warned on Friday that oil markets would enter the “red zone” by August.Contained in documents obtained by Guardian Australian under freedom of information, one option the government has outlined to arrest a local fuel supply shortage is to impose a “maximum transaction value per vehicle per day” – a rationing rule limiting how much fuel a single vehicle can buy at a service station over a 24-hour period. Continue reading...

Drivers conserve fuel amid Iran war uncertainty, pushing overall sales down 1.3% in AprilBusiness live – latest updatesMotorists cutting back on petrol and fuel purchases at the steepest rate since the Covid pandemic in 2020 drove retail sales in Great Britain to their biggest monthly decline in a year.The Office for National Statistics (ONS) said the overall volume of retail sales plunged by 1.3% in April compared with the previous month, the biggest contraction since May last year and worse than the -0.6% forecast. Continue reading...

• China’s economy slowed in April, with industrial output, retail sales and fixed-asset investment all missing expectations as global energy-market volatility added pressure. • Retail sales rose just 0.2% year on year, down from 1.7% in March, while industrial output increased 4.1%, below the 5.63% forecast cited by economists. • National Bureau of Statistics spokesperson Fu Linghui said the economy had “generally speaking” maintained steady growth, but warned the external environment remained “complex and volatile.”