Yesterday
- Exclusive
- Australian economy
Weak consumer spending won’t stop price rises
Chief executives say tepid consumer spending on discretionary items such as sporting equipment and liquor won’t stop companies pushing through further price increases for internet plans, insurance and other staples.
February
Harvey Norman sales crunched but retailer bullish on outlook
Revenue in Australia has begun to rise as renovations and home building increases, the country’s largest whitegoods and furniture retailer said.
- Updated
Guzman y Gomez pushes back IPO plans as losses widen
The Mexican-themed restaurant chain is backed by Barrenjoey and TDM Growth Partners. Global sales soared 30 per cent in the first half of the financial year.
- Updated
- Earnings season
Coles closes in on Woolies over sales, costs
The supermarket chain’s CEO, Leah Weckert, says competition is “very robust” as the retailing giants face intense political scrutiny over rising prices.
- Updated
Dan Murphy’s owner Endeavour off to slower start in second half
Trading at its bottle shops in January softened, pinning hopes on a February turnaround and an outsized performance from Endeavour’s pubs.
- Updated
Adore Beauty shares surge on accelerating revenue
The former takeover target says trading momentum continued in the first six weeks of the new half, with revenue up 8.1 per cent amid a tough consumer backdrop.
Shares in Lovisa, Universal Store jump as dividends rise
The two retailers reported softer like-for-like sales but were bullish in their outlook, boosting returns for shareholders.
- Updated
Lovisa short sellers squeezed as stock rallies to all-time high
The number of short sellers betting against the discount jewellery retailer surged to the highest level in four years ahead of the results, but that hasn’t stopped the stock rallying to all-time highs.
- Updated
- Updated
- Supermarkets
Banducci’s surprise exit wipes almost $3b from Woolworths
Amanda Bardwell will succeed the businessman at the top of the country’s biggest supermarket chain amid a damaging political fight over profit margins.
- Updated
Reputation needs bigger role in Woolworths executive pay: ISS
The proxy advisory group’s comments come as the supermarket giant faces intense scrutiny over its profit margins as household budgets are crunched.
KMD shares crumble to all-time low as weather wreaks havoc on sales
Unseasonably warm weather hurt sales of puffer jackets at Kathmandu, compounding an already weak consumer environment.
A2 Milk shares surge on upgraded outlook
The infant formula player reliant on the China market has topped profit expectations, but pushed out its goal of reaching $NZ2 billion in sales by 2026.
- Updated
- Exclusive
- Retail
Woolies CEO says shoppers want ‘value’ not ‘broader conversations’
After a bruising political bunfight over Australia Day merchandise, the Woolworths boss says shoppers want the retail giant to “focus on delivering value”.
- Exclusive
- Healthcare
GenesisCare emerges from bankruptcy, cuts deal with government
The country’s largest cancer treatment group had charged patients for treatment when it was required by the federal government to only bulk bill them.
Wesfarmers won’t make money off lithium at current prices
CEO Rob Scott concedes the group won’t make money off lithium at current prices, but says longer term it can deliver good returns to shareholders.
- Updated
- Analysis
- Earnings season
How Kmart delivered its record half
Last year’s sellout of the discount chain’s version of the viral US drink bottle Stanley Cup says it all.
Breville shares tank as coffee machine maker quits deep discounts
The small appliance maker’s shares dropped more than 10 per cent after weaker sales in Australia and the US hurt its top line.
Temple & Webster joins the ranks of retail profit beats
The online furniture retailer delivered a record first-half result, a day after JB Hi-Fi smashed expectations and on the heels of Myer, Cettire and Nick Scali.
JB Hi-Fi shares hit record as retailer tops first-half expectations
Chief executive Terry Smart says it is vital for the retailer to keep improving productivity given the rising cost of wages and utilities.
- Updated
Ex-Woolworths chairman calls price gouging claims ‘farcical’
Ralph Waters says supermarkets are being used as a “political distraction”.
