Little 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.
Read MoreRetail
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.
Read MoreAll the Pieces Fall into Place for Mosaic
Sydney-based fashion wear retailer Mosaic Brands told the ASX yesterday that it had seen a massive recovery in its earnings for the six months to December and that its interim results would “materially exceed” expectations.
Read MoreStore Closures Hit API Bottom Line
Priceline Pharmacy owner Australian Pharmaceutical Industries expects first-half earnings from its retail operations to fall because of store closures in Melbourne and parts of Sydney in late 2020 and this month.
Read MoreJB Hi-Fi, Super Retail Group Buoyed by Strong Online Performances
The online retailing boom continues to show up in trading updates from major chains, with JB Hi-Fi and Super Retail Group’s December 30 half year updates showing big gains, albeit slightly slower than in the closing months of the June 30, 2019-20 year.
Read MoreOnline Shopping the Standout in December Retail Figures
While the final retail figures for November show turnover increased by 7.1% compared to first estimate in December of a 7% rise, another stunning performance by the online sector stood out.
Read MoreAccent Group Upgrades Forecasts, Set to Improve on Last Year
Shares in shoe retailer Accent Group ended the week up 6.5% after it revealed a sharp upgrade to December half year revenue and earnings which puts it on track to surpass 2019-20’s full year figures.
Read MoreNick Scali Upgrades Forecasts Despite Adverse Conditions
Nick Scali (ASX: NCK) says it expects unaudited net profit for the period to December 31 to come in at $40.5 million, nearly double the same time last year
Read MoreOptimistic sales data may be an early Xmas present for retailers
The preliminary retail sales data for November on Tuesday helps explain why a number of retailers continue to provide larger than expected sales growth updates.
Read MoreLockdown Lights Up Beacon Sales To Record Levels
Another surge in the shares of Beacon Lighting as the pandemic-driven boom in home renovations and building will see the record end the first half of 2020-21 with record sales and earnings.
Read MoreOnline Shine Helps Michael Hill Overcome Retail Lockdown
Solid online sales continue to help jewellery retailer Michael Hill to survive the continuing vicissitudes of the coronavirus pandemic here and offshore.
Read MoreHealthy Growth Rates Can Continue For Metcash
Metcash’s businesses are expected to continue to grow at healthy rates despite an easing of the boom delivered by pandemic restrictions
Read More“Not Genuine”: Kogan Investors Shrug-Off ACCC Hit
Investors in online retailer, Kogan ignored an embarrassing $350,000 penalty from the Federal Court on Monday and pushed up the share price by 3.8% to $18.04.
Read MoreMetcash Lifts Dividend After “Unprecedented” Sales Surge
The country’s third retail force, Metcash has given shareholders a nice pre-Christmas reward with a 33% lift in interim payout after the supermarket, liquor and hardware group revealed one of its strongest-ever half-yearly results, with the company’s underlying earnings surging 43% in the six months to October 31.
Read MoreCOVID Retail Boom Holds In October
The retail boom is still happening as official figures confirm the updates from retailers large and small in the past few months. Confirmation of the continuing boom came last Friday that Australian retail turnover rose a solid, seasonally adjusted 1.4% in October with the re-opening of Victoria playing the major part in continuing the strong pace of consumption reported in the September quarter GDP report last week.
Read MoreKathmandu CEO In Surprise Departure
The CEO of the NZ-based Kathmandu is set to leave the company to take the job as CEO of Austrade for the Australian government in what is a major surprise. Investors took fright on the news and the shares fell 5.3% to $1.16 in a completely understandable bout of nerves by the market.
Read MoreRip Curl Swells But Branded Store Sales Slip At Kathmandu
Investors didn’t like the first quarter sales update from outdoor and adventure wear retailer, Kathmandu despite some big numbers. The shares lost more than 4% to end the day at $1.265, despite topline sales rising 72% in the first quarter (to the end of October) as the contribution from the Rip Curl acquisition really kicked in.
Read MorePandemic Profit Surge Persists At Harvey Norman
The early months of 2020-21 have seen earnings for Harvey Norman continue their strength from the final quarters of 2019-20 as the ripples of the surge in consumer spending in the COVID-lockdowns continues.
Read MoreBunnings Nails It Again For Wesfarmers
The fortunes of Wesfarmers are increasingly tied (and the share price for that matter) to the performance of its Bunnings hardware chain, judging by the latest trading update for the Perth based giant.
Read MoreRebel Shareholders Spark Rally In Unibail-Rodmaco-Westfield Shares
A stunning 43% jump in the share price of the Paris-based owner of the Westfield international shopping malls, Unibail-Rodmaco-Westfield (URW) on Tuesday stunned investors after it became known that a multi-billion dollar share issue had been rejected by shareholders.
Read MoreDigital Sales Double As Woolies Posts Solid Q1
Woolworths said a switch to eating at home and online shopping powered a 12.3% rise in first-quarter sales compared to the prior corresponding period, a better outcome than the 10.7% rise reported last week by rival Coles.
Read MorePayroll Data Disappoints But Retail Sales Rise
Retail sales volumes rose a record 6.5%, according to Wednesday’s September retail sales report from the Australian Bureau of Statistics. But for the good news on consumption for the quarter and the slightly less worse experience in September, the latest payroll and wages data suggests a continuing slow down in employment and incomes.
Read MoreNew Virus Wave Claims More US Mall Casualties
More problems in US retailing with two big mall owners finally going broke on Sunday as the second and third wave of COVID-19 infections sweep across the country.
Read MoreNew Wave Of Lockdowns Hits Lovisa
Lovisa told the ASX it had temporarily closed all 24 of its stores in France and 40 in the United Kingdom after governments reintroduced new lockdowns to try and control the latest wave of COVID-19 infections.
Read MoreCan Super Sales Strength Last At Super Retail?
With consumer expenditure confined to local leisure and domestic pursuits, Super Retail was expected to do well in the first quarter. To what extent will this continue?
Read MoreJB-Hi Fi Booms, But Investors Worry A Slowdown Looms
As it did in the closing months of 2019-20 with a surge in sales from stuck home customers, JB Hi-Fi says it has seen more of the same so far in 2020-21.
Read MoreStore Closures Dominate Mosaic Brands Update
Mosaic Brands had a strange update yesterday for the AGM – it was more about store closures than new details on how the company was trading.
Read MoreAdairs, Nick Scali Provide “Good News Story” For Retail
Two more bullish trading updates for the start of the 20120-21 financial year from retailers Nick Scali and Adairs.
Read MoreLockdown Proves Bad Medicine For Australian Pharmaceutical Industries
The operator of the Priceline and Soul Pattinson pharmacy chain revealed a $7.9 million loss for the year to September 30, a result driven by the impact of lockdowns and other social distancing moves in the March to July periods, plus the later lockdown in Victoria.
Read MoreInvestors Markdown Temple & Webster Despite Sales Boom
Another solid update from online furniture and homewares retailer Temple & Webster yesterday didn’t help the share price of the boom group – they fell more than 17% because silly investors wanted more than was announced.
Read MoreSeptember Retail Sales Lose Momentum
Annual growth in retail sales is slowing, despite a spate of upbeat updates for the September quarter from a number of small groups, especially online specialists.
Read MoreLovisa Eyes Retail Recovery As Sales Slump Slows
Shares in jewellery retailer Lovisa eased a touch yesterday even though the company revealed an improvement in first-quarter sales performance.
Read MoreBapcor Shares Hit Record High As Q1 Sales Rev Up
Shares in automotive parts retailer and wholesaler, Bapcor have jumped to a record high after the release of its first-quarter update which showed Australians are spending more keeping their existing cars roadworthy and going.
Read MoreOnline Sales Crucial For Premier Investments
The Premier Investments suite of retail businesses are resilient, with online anincreasingly crucial driver of sales going forward.
Read MoreRip Curl Deal Not Enough Save Kathmandu From COVID Wipeout
No dividends for the 2019-20 financial year for shareholders in retailer Kathmandu. The pandemic and lockdowns also meant the company got no real benefits from its expensive purchase of Rip Curl in 2019 though that did help boost revenues for the year to July 31.
Read MoreVictoria Drags But Retail Sales Slow Across The Nation
Yes, as forecast Victoria’s lockdowns hit retail sales in August, knocking them lower, but what did surprise was the fall in the month outside that state as the retail boom seemingly slowed. And you can be certain the lockdowns will have a similar impact in September, but will sales outside Victoria also fall for another month?
Read MoreCOVID Spending Catapults Harvey Norman Sales Higher
Another very strong sales and profit update from retailer Harvey Norman with the company revealing double-digit growth through the first quarter of 2020-21 as consumers continue to spend heavily.
Read MoreUS Miss Weighs On Fashion Chain City Chic
Shares in women’s fashionwear retailer City Chic fell more than 15% yesterday at one stage as investors took fright at the news it had missed out on a major deal in the US.
Read MoreMoody’s: Record Supermarket Sales To Steady
Credit rating group, Moody’s sees Australia’s major supermarket chains – Woolies and Coles having a solid first half of the 2012-21 financial year, thanks to the continuing threat from COVID-19.
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