JB HiFi scores top corporate reputation; DJs to launch private label: Midday Roundup

Electronics retailer JB HiFi has topped this year’s Corporate Reputation Index, joining fellow retailers The Good Guys, ALDI and Apple in the top 10.

The annual index, which is produced by research consultancy AMR, is based on surveys of around 7800 Australian adults aged 18-64, who were asked to rank 60 companies across seven areas: products and services, innovation, workplace, citizenship, governance, leadership and performance.

Recent announcements in the car industry appear to have affected this year’s rankings, with Toyota, GM Holden and Ford all dropping down the list, while Qantas has dropped 13 places to 26th place.

Other companies and organisations in the top 10 are Australia Post in second place, Nestle Australia in fifth place and Virgin Australia in eighth place.

DJs to boost private label products

Department store David Jones will increase the amount of private label products on its shelves under a new strategy outlined by potential new owners Woolworths South Africa, reports Fairfax.

Woolworths chief executive Ian Moir has revealed plans to lift the private label component in David Jones stores from 3% to between 20-30% if the company’s $2.15 billion take-over bid is successful.

The move is likely to put pressure on suppliers of branded products, who will be forced to compete for less shelf space.

Shares down on open

Aussie shares have opened down this morning, as Wall Street closed sharply lower at on Friday.

The S&P/ASX200 benchmark was down 25.8 points to 5402.8 at 12:13pm AEST. On Friday the Dow Jones closed 143.47 points lower, down 0.89% to 16,026.75.