Today
‘Economy-proof’ gin delivers windfall for ex-Macquarie banker
George Georgiadis left finance to build a gin business with two mates eight years ago. They’ve hit payday with a buyout by Asahi.
- Simon Evans
Ex-Bapcor boss braces for the worst after CEO no-show
“I should have sold a long time ago,” says former Bapcor CEO Darryl Abotomey, adding that it is disappointing to see the company go through more turmoil.
- Simon Evans
Woolworths shareholders to pocket proceeds from Endeavour sale
The supermarket giant offloaded a 5 per cent stake in the owner of Dan Murphy’s, realising $468 million for its shares.
- Carrie LaFrenz
Yesterday
Super Retail’s alleged executive tryst packs heat on the board
Bombshell claims against CEO Anthony Heraghty have been aired in public, putting the spotlight on chairwoman Sally Pitkin.
- Updated
- Mark Di Stefano
Woolworths launches $468m selldown in Endeavour; Jarden on ticket
It’s not the first time Woolworths has offloaded Endeavour Group stock since the grocer spun it off to the ASX boards.
- Sarah Thompson, Kanika Sood and Emma Rapaport
- Opinion
- Chanticleer
Coles has a bit of a booze problem
While Coles’ supermarket sales are holding up well, a shock drop in its liquor division tells a story about the growing pain of interest rates.
- James Thomson
Coles wants suppliers’ help in cutting prices as shoppers seek deals
The supermarket chain’s sales rose 5.1 per cent in the third quarter but liquor sales fell as consumers cut spending by looking for cheaper alcohol options.
- Carrie LaFrenz
April
Super Retail legal action expands to at least four staff
Lawyers acting for employees say they offered to settle confidentially for less than a third of the $30 million to $50 million sought.
- Carrie LaFrenz and Ayesha de Kretser
Adore Beauty CEO Morton to step down
The online beauty retailer is on the hunt for another CEO after Tamalin Morton flagged plans to exit in September.
- Carrie LaFrenz
Aldi pays mega $420m dividend to offshore parent
Newly released accounts reveal the discount supermarket chain made a hefty capital return to Austrian company Hofer KG in 2023.
- Carrie LaFrenz
‘Wealth effect’: the stocks that could gain from rising house prices
Jarden highlights its best bets, saying homeowners feeling good about their property appreciation turn to spending more on big-ticket retail items.
- Simon Evans
- Exclusive
- Food & drink
Jon Adgemis’ lender pushes to sell his Darlinghurst Hotel
Another lender does not want the sale to go ahead. The crisis highlights the rosy valuations of the indebted pub baron’s properties.
- Primrose Riordan
Super Retail CEO and former exec accused of undisclosed relationship
The board and chief executive are expected to be named in a soon-to-be-lodged legal claim by Harmers Workplace Lawyers, Super Retail said.
- Carrie LaFrenz
- Opinion
- Window Shopping
Why supermarkets ‘fell off their pedestal’
Building social licence is a significant opportunity for retailers but as the travails of the two big supermarket chains show, it can be easily damaged.
- Sue Mitchell
Nick Scali mounts UK push, realising long-held dream
The Australian furniture retailer flagged an equity raising to fund deal and further invest in its new British business.
- Carrie LaFrenz
Woolies cuts prices in bid to catch Coles’ growth
A JPMorgan survey of private label products shows the supermarket giants are competing more aggressively on price, closing the gap with discount retailer Aldi.
- Carrie LaFrenz
The Melbourne shopping hotspot that became a ‘ghost town’
Businesses on Bridge Road in Richmond, which has a whopping 15.5 per cent vacancy rate, fear an insolvency snowball effect.
- Gus McCubbing and Larry Schlesinger
Private equity-backed Australian Venue Co steps up pub chase
The $10b Endeavour Group put the brakes on acquisitions, but its smaller rival says it could buy 20 pubs this year “quite comfortably”.
- Simon Evans
Adgemis’ Bondi auction looms as Deutsche, Gemi try to muster a deal
Angas Securities said it had turned down two proposals from the bank, which is negotiating a $500 million refinance, and is trying to get its money back.
- Primrose Riordan and Max Mason
Woolworths says forced store sales won’t lower prices
The nation’s largest grocery chain says the bill put forward by the Greens as a tool against the misuse of market power could even result in higher prices.
- Carrie LaFrenz
