Queensland-based Pillow Talk is celebrating 40 years in business. The bedding and homewares company has been operating since 1977, when the brand’s first store opened in Brisbane’s Ann Street. Now over 50 Pillow Talk stores operate around the country.
Chief executive and co-founder Heath Goddard said there were many reasons why companies succeeded or failed. He told the Courier Mail: “We were fortunate to start off with some different products. We invested any profit we made back into the business, something we still do.”
Goddard said he was confident his business could continue to prosper, and he said although much had changed in the past 40 years, the rise of online shopping was the most dramatic development.
He said the company realised early on the importance of selling online, but customers were initially slow to start using the service. “We were probably sending out a couple of parcels a day (at first),” he explains. “Now it is a huge part of our business, and we are very proud of the way we operate.”
The Australian Bureau of Statistics released its figures showing retail spending rose 1% in April, seasonally adjusted, following a fall of 0.2% in March and a flat result in February. While the results surpassed market expectations of 0.3%, certain key categories recorded falls, including electrical and electronic goods (down 1.1%) and footwear and personal accessories (down 2.2%).
The seasonally adjusted estimate rose by 1.5% for furniture, floor coverings, homewares and textile goods.
From the Courier Mail