Overview

• Country Road closed its Market Street outlet at the Queen Victoria Building and sister brand Trenery shuttered its Military Road shop in Mosman this month
• The retailer has slated its Pitt Street Mall lease to expire in 2028, when that flagship store will also close
• Woolworths Holdings reported an 8% fall in Country Road sales and a 72% plunge in operating profit to $14.2 million for the half-year ending December 29, 2024
• Reduced demand for corporate business wear under hybrid work models has been cited as a primary driver of the sales downturn
• Country Road plans to open or refurbish ten new locations by year-end to realign its network with evolving customer preferences