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    Companies

    Retail

    Yesterday

    Big bosses from left: NAB CEO  Andrew Irvine, Wesfarmers managing director Rob Scott, CSR CEO Julie Coates, Harvey Norman executive chairman Gerry Harvey.

    CEOs to Labor: inflation still needs to be tamed

    Measures to lift housing supply are being partly applauded, but a heavier push on curbing inflation seems to be missing in a two-speed economy.

    • Simon Evans and Liam Walsh
    Claire Morris founded Prezzee with Matt Hoggett.

    Prezzee co-founder quits Shaun Bonett-owned gift card company

    Claire Morris is leaving the group, and resigning as its brand ambassador. It follows a string of senior executive departures in the last 18 months.

    • Primrose Riordan

    This Month

    Wages are up and employment is strong, but households are under pressure.

    Where Australians are spending their larger pay packets

    Australian household income is up, but so is spending on some undesirables. The result is what our retail CEOs are talking a lot about - shopping for value.

    • Anthony Macdonald
    Care A2 Plus was one of a small number of overseas infant formula producers allowed to import into the United States.

    Care A2 Plus lender applies to wind up baby formula minnow

    Care A2 Plus faces the prospect of being wound up due to a long-running dispute with a lender who alleged the infant formula manufacturer defaulted on a $2.2 million loan.

    • Max Mason and Carrie LaFrenz
    David Di Pilla’s HMC Capital has taken a big stake in Baby Bunting

    David Di Pilla’s HMC Capital takes big stake in Baby Bunting

    The country’s largest maternity and baby good retailer has had a poor year, with earnings downgrade and executives departures pushing shares a third lower.

    • Kylar Loussikian
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    Households are increasingly optimistic about their financial position. But retail spending remains weak.

    Shares smashed as optimistic shoppers prove no match for retail weakness

    JB Hi-Fi and Baby Bunting were among stocks to slide amid disappointing earnings. But new Barrenjoey analysis suggests that the worst may have passed.

    • Simon Evans and Tom Richardson
    Scentre CEO Elliott Rusanow.

    Westfield Bondi owner says shoppers are back after horror attack

    Scentre chief executive Elliott Rusanow said the mall operator had increased security spending as it returned to a “different” normal after the fatal attack.

    • Campbell Kwan
    Shoppers are increasingly waiting for regular items to be discounted, with the major retailers alternating when they drop prices.

    Half-priced detergent every few weeks? Shoppers can smell a rat

    Deep food and grocery discounts have become increasingly popular with consumers, but the cost is unfairly borne by suppliers, prompting calls for change.

    • Updated
    • Sue Mitchell
    Cettire chief executive Dean Mintz earlier this year. He rarely makes public appearances and did not allow his photo from the Macquarie Australia Conference to be published.

    Cettire founder makes rare appearance to talk up retailer’s growth

    The luxury goods marketplace has been under considerable investor pressure with questions over some of the company’s duty and tax payment practices.

    • Carrie LaFrenz
    Ruslan Kogan, founder and CEO of Kogan.com.

    Board bought time for Kogan execs to settle $17 million windfall

    Recently released emails show how the Kogan board delayed the settling of executive bonuses for cash, helping the return.

    • Mark Di Stefano
    Ruslan Kogan is the chief executive and founder of Kogan.com.

    ASX queries Kogan executive options sale ahead of share plunge

    The online retailer, in response to questions from the market operator, said it did not think a poor sales update that sent its stock tumbling was material.

    • Carrie LaFrenz and Tom Richardson
    Endeavour Group chief executive Steve Donohue says spritzers are coming back into fashion.

    Dan Murphy’s parent Endeavour posts 2.2pc sales growth

    The pubs and bottle shops owner warned that market conditions have remained subdued so far in April.

    • Carrie LaFrenz
    Payments integration reduces friction preventing consumers from completing a sale.

    Innovative payment platforms make ecommerce more accessible than ever

    Ecommerce is maturing in Australia as merchants confront the challenge of evolving consumer preferences and a complex payments ecosystem.

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    by CBA

    Jon Adgemis.

    Adgemis, fighting fires, now has the Tax Office at his door

    The Tax Office is knocking on the door of Jon Adgemis’ embattled pub group for more than $10 million as the former KPMG rainmaker attempts to save his empire.

    • Max Mason and Primrose Riordan
    Rob Scott’s portfolio of businesses at Wesfarmers is constantly evolving. The spotlight is on its digital, health and lithium moves.

    Wesfarmers sprays growth bets, waiting for payoff

    Wesfarmers’ hefty businesses proved their resilience in the pandemic. Now, with shares breaking $65 for the first time, Rob Scott needs us to think about growth. 

    • Updated
    • Anthony Macdonald
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    Woolworths CEO Brad Banducci

    Woolworths faces widening gulf with Coles in sales stakes

    Brad Banducci, the departing chief executive of supermarket giant Woolworths, is losing the battle with arch-rival Coles as he prepares to bow out in September.

    • Updated
    • Simon Evans
    Woolworths chief executive Brad Banducci is facing three big problems.

    Woolies’ reputational crisis has cost it $8b and counting

    The supermarket giant has aggressively brought down prices, but its sales are growing far more slowly than its great rival. That’s a serious problem. 

    • James Thomson
    Chief executive Rob Scott at Wesfarmers’ strategy briefing day in Sydney on Thursday.

    Wesfarmers flaunts its growth record, hopeful of lithium fortune

    From hardware giant Bunnings and retailer Kmart, to the emerging lithium business and health unit, Mr Scott says Wesfarmers is well-placed amid a slower economic environment.

    • Carrie LaFrenz
    Never Never co-founder George Georgiadis (far right) left his finance job to become an entrepreneur.

    Ex-Macquarie banker who banked on premium gin hits payday

    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
    Former Bapcor CEO Darryl Abotomey still owns 1 million shares in the company he was ousted from in late 2021. He says the latest turmoil is “disappointing in the extreme”.

    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