Myer Shares Hit 2-Year High on Strong Result
Myer shares closed at their highest level since September 2019 after riding a 28% surge in online business to report a $51 million profit for FY2021, its best result in the past four years.
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HomeCo Raising Money to Make Money
At a time when continuing Covid delta infections are worrying shoppers and investors in some listed retailers and their landlords, one new trust is looking to go deeper into the sector.
Read MoreMosaic Reveals Details of Capital Raising
Struggling women’s fashionwear retailer Mosaic Brands has confirmed the details of its capital raising after a delay over the weekend in a move that ended up being cheered by investors.
Read MoreWoolies Rewards Holders with Payout, Buyback
Shareholders in Woolworths have joined the ‘rivers of gold club’ that has already showered largesse on the likes of the Commonwealth Bank, Suncorp, the ANZ and NAB.
Read MoreProfit Briefs: COL, SUL, BAP, VCX
With peak reporting season upon us, here are snippets from the results announced yesterday by some local retailers: Coles, Super Retail Group, Bapcor and mall owner-operator Vicinity Centres.
Read MoreThe Boom Before the Gloom for Scali
A case of deja-vu for furniture retailer Nick Scali yesterday, as the company doubled net profit in the year to June but avoided issuing further guidance because of the ongoing lockdowns.
Read MoreRetail Slide Continues
The 1.8% slide in June’s retail sales was confirmed yesterday as analysts forecast several more months of weak consumer activity because of the continued lockdowns.
Read MoreWhat’s Next for E-Commerce?
With increasing vaccination levels and economies reopening, GAM Investments’ Mark Hawtin considers what a post-covid-19 future might look like for the ecommerce sector.
Read MoreT & W Furnishes Market with Good News
Shares in online homewares retailer Temple & Webster jumped more than 10% at one stage yesterday after the company revealed it has made a strong start to the 2021-22 financial year.
Read MoreRetail Not So Breezy the Second Pandemic Around
The current spate of lockdowns will make 2020-21 annual reports look out-of-date if the update and comments from electronics and homegoods retailer JB Hi-Fi yesterday is any guide.
Read MoreUS Giant’s Entry Upsets BNPL Apple Cart
Did reality catch up with Australia’s buy-now-pay-later sector yesterday with the news that Apple is about to enter the sector just as PayPal has kicked off its local assault?
Read MoreWesfarmers’ API Bid Could Put the Sector in Play
Wesfarmers’ surprise $687 million, $1.38 per share bid for Australian Pharmaceutical Industries (API) could very well re-ignite a brawl over the big retailers getting into the business.
Read MoreCovid Causes Kathmandu Profits to Take a Hike
Shares in outdoor retailer Kathmandu ended down 4% yesterday after it became the first company to issue a revenue and profit downgrade because of the renewed Covid threat.
Read MoreMetcash Keeps the Registers Ringing
Metcash slipped out a record full-year result and dividend, as well as a share buyback, which saw the company’s shares up by more than 3% at one stage in Monday trade.
Read MoreCovid Money-Go-Round Whirrs Back into Action
The lockdown stocks play was out in full force yesterday on the ASX, as travel and aviation companies were sold off but retailers – especially onliners – saw strong gains.
Read MoreWA, Queensland Pick Up Retail Slack
Shoppers in Western Australia and Queensland dug a little deeper in May and kept national retail sales growth positive in the month, offsetting the expected slide in locked-down Victoria.
Read MoreTRS Being Rejected at the Register
The one-off is slowly becoming a trend in retailing as more chains report weaker sales growth or even falls compared to the boom-like conditions of a year ago.
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RBA to Maintain Hands-Off Policy with BNPL Sector
Good news for buy now pay later (BNPL) companies with the Reserve Bank deciding against regulating the sector for now. But a change could be coming down the track.
Read MoreMosaic Back in Black as Horror Turns to Wonder
Accounting black, not red, has become the order of the day for retailer Mosaic Group, with stores open, revenue ticking over, profits on board and more to come in 2022.
Read MoreDiary: The Devil’s in the Details
There will be some low-level economic data releases and central bank decisions this week, while in Australia it’s the start of the lead up to the release of the March quarter National Accounts and GDP figures.
Read MoreScentre Cautiously Optimistic of a Turnaround
Following positive results from JB Hi-Fi and Super Retail group, Scenter – the country’s biggest shopping mall owner with 42 – has issued an upbeat quarterly update.
Read MoreInvestors Check Out of Woolies after Poor Result
Shares in Woolworths fell to their lowest level in more than a month on Thursday after the country’s biggest retail group produced weaker than expected sales figures for the third quarter.
Read MoreRed Ink, Bubble Bursts for Local E-tailer
Shares in online retail and art marketplace Redbubble slumped more than 22% after the company reported a number of “key misses” in a third-quarter trading update.
Read MoreAPI Stuns Market with 30% Earnings Drop
Priceline chemist chain operator Australian Pharmaceutical Industries surprised on Thursday with a 30% slide in interim profit thanks to the impact of COVID shutdowns.
Read MoreRetail Rebounds, but Uncertainty Prevails
Retail sales recovered in March, but while the 1.4% rise was slightly better than expected and more than made up for the slide in February, the longer-term trend remains cloudy.
Read MoreNot All BNPLs Are Created Equal
What will ultimately separate winners from losers in the BNPL sector is how profitable and durable their business models will be as the market becomes more regulated, increasingly crowded, and more commoditised.
Read MoreWoolies Takes Control of Quantium
Woolworths has tightened its control of retail data analytics firm Quantium and will use the controlling stake in the start-up to build a completely separate division.
Read MoreBNPL Giant Has Stars and Stripes in its Eyes
In its third quarter update, BNPL group Afterpay confirmed media reports earlier in the year that it was looking at a US market listing in the not-too-distant future.
Read MoreSpate of Lockdowns Curbs Retail Sales
Brief lockdowns in Victoria and Western Australia saw retail sales down in February, with the first estimate from the ABS showing a fall of 1.1% for the month vs the expected rise of 0.3%.
Read MoreLure of the BNPL Siren Song too Strong for CBA to Resist
Despite already having a presence in the BNPL sector through its stake in Swedish giant Klarna, CBA has clearly decided the attraction of the BNPL model popularised by Afterpay is too juicy to ignore.
Read MoreRewriting the Retail Rule Book
A feature of retailing’s performance in the pandemic is how a host of what appeared to be lumbering giants have moved quickly to reposition their offerings onto the online space.
Read MoreKickbacks Curtail Myer Loss
Without the millions in JobKeeper subsidies and rent waivers from landlords, Myer would have been on the brink of something more damaging than just a loss for the six months to the end of January.
Read MoreWoolies Checks All the Boxes
Woolworths did everything right in the December half, with revenue and earnings up strongly, a dividend increase for shareholders and the demerger of its grog business on track.
Read MoreRetailers Make Hay While the Sun Shines
Retail sales volumes rose 2.5% in the December quarter 2020, seasonally adjusted, according to the Australian Bureau of Statistics (ABS) on Friday. This follows the 6.5% rise in the September quarter 2020.
Read MoreNick Scali Ups Dividend, Downplays Prospects
Furniture retailer Nick Scali has boosted its interim dividend but again warned that its growth remains constrained by COVID-related supply issues and made no forecast for the June 30 half year.
Read MoreTemple & Webster Stacks Up In Furniture
Temple & Webster is leading the charge as online sales of homewares and furniture grow rapidly
Read MoreLittle to Cheer About as Xmas Retail Spending Slumps
Retail spending slumped 4.2% in December as the impact of a 7% surge in December drained demand from what is normally the busiest month of the year.
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Sales Rebound Can’t Fully Offset Reduced Traffic for Vicinity
Despite the solid rebound in retail sales, the continuing shortfall in the numbers of shoppers, tourists and CBD office workers has seen Vicinity Centres knock another half a billion dollars off the value of its centres.
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