News | Business
22 Jun 2024 16:07
NZCity News
NZCity CalculatorReturn to NZCity

  • Start Page
  • Personalise
  • Sport
  • Weather
  • Finance
  • Shopping
  • Jobs
  • Horoscopes
  • Lotto Results
  • Photo Gallery
  • Site Gallery
  • TVNow
  • Dating
  • SearchNZ
  • NZSearch
  • Crime.co.nz
  • RugbyLeague
  • Make Home
  • About NZCity
  • Contact NZCity
  • Your Privacy
  • Advertising
  • Login
  • Join for Free

  •   Home > News > Business

    Smith and Caughey's chair says a culmination of issues are forcing them to shut up shop

    Smith and Caughey's chair says a culmination of issues are forcing them to shut up shop


    The flagship Auckland department store's told staff it'll close early next year - after 144 years in business.

    Revenue's dropped 40 percent over the past five years - at its Queen Street and Newmarket stores.

    Tony Caughey says they've survived depressions, covid and other disruptions.

    But he says the business is no longer sustainable.

    He says there've been times in their history they've got through, but now half a dozen things have come together all at once.

    © 2024 Newstalk ZB, NZCity

     Other Business News
     22 Jun: Conspiracy theorists often talk about the 'deep state'. This is what one might actually look like
     22 Jun: Emotional and financial harm for Northland businesses following a massive power outage
     21 Jun: Resource management is always political – the Fast-track Approvals Bill is just honest about it
     21 Jun: No costing, no clear timelines, no easy legal path: deep scepticism over Dutton’s nuclear plan is warranted
     21 Jun: Weak economies in other developed countries are impacting GDP growth in New Zealand
     21 Jun: Economists aren't expecting GDP to rise significantly, until there's a material change in the OCR
     21 Jun: Celebrity beauty brands are a billion-dollar business. Beyoncé and Rihanna's latest ventures show where it's all heading
     Top Stories

    RUGBY RUGBY
    Ofa Tu'ungafasi is putting his Super Rugby try-scoring run down to what he's calling the most simplistic gameplan the Blues have ever had More...


    BUSINESS BUSINESS
    Conspiracy theorists often talk about the 'deep state'. This is what one might actually look like More...



     Today's News

    Entertainment:
    Eva Longoria and Meryl Streep's family connection left their 'Only Murders In The Building' costar-s "confused" 15:46

    Law and Order:
    Two people have been arrested and charged in relation to a shooting of a South Auckland home 15:27

    Entertainment:
    Lupita Nyong'o still went to see Beyonce and Taylor Swift in concert while on vocal rest 15:16

    Rugby League:
    Warriors captain Tohu Harris is expecting Te Maire Martin to remain heavily involved in playmaking during this afternoon's battle with the Titans on the Gold Coast 14:57

    Entertainment:
    Billy Ray Cyrus is said to be "relieved" that his marriage to Firerose is over 14:46

    Rugby:
    Ofa Tu'ungafasi is putting his Super Rugby try-scoring run down to what he's calling the most simplistic gameplan the Blues have ever had 14:37

    International:
    Is Brexit to blame for the UK's years of political uncertainty and chaos? 14:17

    Entertainment:
    Kim Kardashian thinks she will only "look good" for the next 10 years 14:16

    Rugby League:
    The Warriors don't need to look far for motivation heading into this afternoon's NRL tussle with the last-placed Titans on the Gold Coast 14:07

    Living & Travel:
    AAP Rolling News Bulletin Jun 22, 1130 13:47


     News Search






    Power Search


    © 2024 New Zealand City Ltd