This tells us that consumers’ discretionary income is continuing to fall, Retail NZ CEO Carolyn Young says.

MJ Bale’s profit boom in FY25 came from tight cost discipline over the year rather than a sales jump.

Fernandez takes on the role following the exit of George Tsoukalas.

Mc Chesney-Clark succeeds Craig Barnett, who announced his retirement last week after 25 years with the business.

This adds to new transparency regulations such as sustainability reporting by large companies.

Retail trade sits in the middle of the Commerce Commission's competition rankings across 16 industry divisions.

The deal is expected to be settled by June 30 this year.

The North Face AU/NZ GM Paul Karis called the opening an exciting moment for the brand.

This follows a recent push by the Australian Fashion Council (AFC) and bootmaker R.M.Williams to revive local manufacturing.

“Retail is Australia’s largest private sector employer," ARC's Glenn Fahey said.

"Sydney's most beloved store never really left... It was simply waiting for the right century to come home."

This year’s AFIAs follows a sold-out room of C-Suite leaders in 2025.

"We’re fortunate to have a number of designers we work closely with showing this year."

The deal will see the pair drive content across social and broader marketing channels and initiatives.

New measures include a permanent instant asset write-off and a crackdown on cheap offshore platforms like Shein and Temu.

This comes alongside improved sales in both the United States and AU/NZ.