Mountain Designs Will Close One In Three Stores As Aussie Retailers Embrace ‘downsizing’ Trend

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Shops at Joondalup, Wagga Wagga, Toowong and Dubbo closed on January 7 followed by branches at Cannington, Bendigo, Toowoomba and Wollongong on January 10, according to a statement from the company.

Stores at Pacific Fair, Ashmore, Bunbury, Moorabbin and Warringah will also close, although a date is yet to be confirmed.

“Like many Australian retail businesses at present, Mountain Designs is adapting to changing pressures within the retail sector that are influencing customer buying practices,” the statement read.

“Some of these include increased competition, price discount fatigue, a decline in national consumer foot traffic, and new broadening technology platforms and online services.

“Mountain Designs is making operational and strategic adjustments to counter these.”

Remaining stores will continue trading as normal and the company is not in administration — however, the Courier Mailreported it suffered a $7 million loss in 2016.

The statement said the financial loss was attributed “to the flow-on effect from exiting the New Zealand retail industry in 2014/15 as well as the current tough trading conditions in the Australian retail industry”.

It follows news this week that footwear brand Diana Ferrari would close many of its stores in the following months.

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Source : http://www.news.com.au/finance/business/retail/mountain-designs-will-close-one-in-three-stores-as-aussie-retailers-embrace-downsizing-trend/news-story/4ce74adbb93a60c19fc6aa74470c681d

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