Catie Low covers the retail and consumer goods sectors.
The changing of the guard at Wesfamers this week was all but overshadowed by a sharp fall in earnings from its prized supermarket business Coles, big losses from its UK hardware operation and the likely sale of both coal and the Officeworks chain.
In the 26 weeks to December 25, David Jones sales increased by 4 per cent, compared to an 11.2 per cent spike in sales growth in the previous corresponding period.
In the 26 weeks to December 25, David Jones sales increased by 4 per cent, compared to an 11.2 per cent spike in sales growth in the previous corresponding period.
The retail job losses continue to pile up, with the shut-down of 13 Marcs and David Lawrence stores putting at least 20 more staff out of work and another 50 facing an uncertain future.
Wesfarmers has vowed to never give up on Coles and fight to protect its market-leading position.
Domino's half year result left a bad taste in investors mouths, triggering a 16 per cent slump in its share price.
Domino's chief executive Don Meij was forced to defend the chain's $5 pizza deal as he upgraded profit expectations for the full year, but its shares dived.
Rob Scott has been named the new Wesfarmers managing director to succeed Richard Goyder, who will step down from the role towards the end of this year.
Rob Scott has been named the new Wesfarmers managing director to succeed Richard Goyder, who will step down from the role towards the end of this year.
Electronics chain JB Hi-Fi has announced a 23.6 per cent jump in half year sales to $2.6 billion, beating consensus estimates and pushing interim profits almost 16 per cent higher to $110.4 million.
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