Date Time
Retail sales rose 7.1% in November: Australia
Australian retail turnover rose 7.1 per cent in November 2020, seasonally adjusted, according to the latest Australian Bureau of Statistics (ABS) Retail Trade figures.
This updates the preliminary result of 7.0 per cent, and follows a rise of 1.4 per cent in October 2020.
Ben James, Director of Quarterly Economy Wide Surveys, said: “The rise is led by Victoria (22.4 per cent) as Melbourne retail stores were able to trade for a full month in November. Excluding Victoria, turnover rose 2.6 per cent.”
Other states and territories to record an increase in turnover were Queensland (4.5 per cent), New South Wales (2.3 per cent), Western Australia (1.2 per cent), Tasmania (3.4 per cent), the Australian Capital Territory (2.5 per cent), and the Northern Territory (2.2 per cent). The brief lockdown in South Australia (-0.2 per cent) led to a relatively flat result, as falls in most industries were offset by a rise in food sales.
Benefits Of AI In Online Retail Businesses
The online retail sector is booming at an impressive pace. Back in 2019, retail ecommerce sales were subjected to around 3.53 trillion US dollars, the figure is expected to reach a gigantic of $4.5 trillion in 2021.
So, what do you think is the driving factor towards the unprecedented growth of ecommerce industry? Among several other state-of-the-art technologies, Artificial Intelligence is at the top of the list that seems to play a crucial role. Thanks to the rapid development and deployment of machine learning, reinforcement learning, and computer vision, that have redefined the whole way of conducting online businesses.
Press release content from Business Wire. The AP news staff was not involved in its creation.
Tilly’s, Inc. Announces 2020 Holiday Period Net Sales Growth
January 11, 2021 GMT
IRVINE, Calif. (BUSINESS WIRE) Jan 11, 2021
Tilly’s, Inc. (NYSE: TLYS, the “Company”) today announced growth in its net sales for the nine-week period ended January 2, 2021 (the “2020 holiday period”) in advance of its participation in the virtual ICR Conference 2021 on January 11-12, 2021.
“Considering the ongoing, significant impacts and challenges of the COVID-19 pandemic across the country, I am proud of our team’s achievement of a positive overall comp for the 2020 holiday period,” commented Ed Thomas, President and Chief Executive Officer. “To end the 2020 holiday period with as much cash as last year at this time is an amazing result after all that has taken place, which speaks to the quality of execution by our entire team, especially with respect to inventory and expense plann
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