New Zealand News Today | 2 Min News | The Daily News Now!
Two iconic menswear brands, YD and Tarocash, are packing up and leaving Westfield Riccarton next month—YD on August 9th, Tarocash on the 16th—after the Australian Retail Apparel Group opted not to renew their leases, citing rising rent. Despite strong sales and increased mall foot traffic thanks to the new stadium, the move signals a tough reality for retailers. Meanwhile, the broader retail sector is cautiously optimistic, with 70% of retailers feeling confident about surviving the next year. But apparel sales are still sliding—down 4% in June, marking a fourth consecutive month of decline—driven by the relentless pressure of the cost of living. Both brands will stay in Christchurch via their Dress Smart Hornby stores, with staff reassigned. The future of Westfield Riccarton’s retail landscape remains uncertain as other leases come up for renewal. Listen in comfort: Get a discount on a Soli Pillow: http://solipillow.com/discount/dnn. Advertise on DNN: advertise@thednn.ai This is an automated, high-level news summary based on public reporting. Report issues to feedback@thednn.ai. View sources & latest updates: https://sources.thednn.ai/75281dd0b44117cd
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