Mall Owner Still in the Vicinity of Confident
Vicinity Centres, the country’s second biggest shopping mall group, has reaffirmed its confidence in the Australian consumer in its updated guidance for FY 2021-22.
Read MoreRetail
Surprise Downgrade Leaves Mosaic on the Tiles
Shares in women’s fashionwear retailer Mosaic Brands were crunched 55% Wednesday after the company sprung a bad news downgrade and loss for the year to June on investors.
Read MoreRetailers at the Crossroads
All sorts of mixed messages from retailers both off- and online over the past few weeks with many different factors at play. So here’s an in-depth look at where things currently stand for the sector.
Read MoreEconomics Wrap: Hey, Big Spender!
Ahead of the March quarter economic growth figures this week, data Friday confirmed that household consumption remained solid in April, even though inflation was clearly evident.
Read MoreEarnings Round-Up: Retail Therapy
After last week’s US retail shockers, this week’s reports from some of the lesser lights assume greater importance, especially after another weak result on Friday from discount chain Ross Stores.
Read MoreWoolies Takes Controlling Stake in MyDeal
Woolworths has offered to buy an 80% controlling stake in the online department store business MyDeal for $271 million, or $1.05 a share cash.
Read MoreUpbeat Retailers Find Market a Tougher Sell
A number of leading retailers of all sizes presented trading updates to the Macquarie investment conference yesterday. Some numbers were solid but investors remained unimpressed.
Read MoreConfidence, Spending Remain Surprisingly Buoyant
Nothing wrong with household spending and confidence in early 2022, according to data on retail sales and lending finance released yesterday by the Australian Bureau of Statistics.
Read MoreWoolies Chief Calls for CPI-Adjusted Wage Rise
Woolworths chief Brad Banducci has broken ranks with other executives, calling for an increase in retail workers’ wages to keep up with the rapidly rising inflation across the industry.
Read MoreColes Update Confirms Price Pressures
Coles’ quarterly trading update on Thursday provided a timely confirmation of the ubiquity of rising cost pressures and their upward effect on consumers’ ongoing cost of living.
Read MoreThe Poignant Death Rattle of a US Retail Giant
Sixty years after the three of them opened in the US within a 12-month period, Walmart and Target continue to survive and thrive, while Kmart’s downfall is playing out its final act.
Read MoreRetailers Seen as the Budget’s Big Winners
Analysts see retailers and other stocks selling goods or services to consumers as the main sharemarket beneficiaries of Tuesday night’s incentive-packed federal budget.
Read MoreRetail Continues on Road to Recovery
Retail sales jumped a stronger than forecast 1.8% in February with shoppers continuing to spend up as the Covid Omicron fears of December and early January dissipated.
Read MoreMcPherson’s, Chemist Warehouse in Quid Pro Quo
In an unusually generous deal, McPherson’s is placing almost 10% of its capital with the giant Chemist Warehouse Group in exchange for a major distribution agreement.
Read MoreStory of Two Halves this Year for KMD
KMD Brands met the downgraded guidance from its January 25 update yesterday, confirming that Covid had damaged revenues and earnings, but not returns to shareholders.
Read MoreKathmandu Consolidates into KMD Brands
Outdoors retailer Kathmandu has completed a rebranding to ‘KMD Brands’, of which it has a few, not to mention a new CEO looking to put his stamp on his new company.
Read MoreAmazon Split First Step in Much-Needed Revamp
No longer the terroriser of retailers it has been since 1997, Amazon has reached middle age and needs a good sprucing up to keep it in the megatech capital gains game.
Read MoreMyer Set to Pay First Dividend in Five Years
Department store operator Myer will pay shareholders a dividend for the first time in five years despite the company’s profits falling by 25% through the first half of the financial year.
Read MoreSpending Spree Pushes Oz Annual GDP Above 4%
Australian consumers spent heavily coming out of the Covid Delta lockdowns in the last quarter of 2021 and dragged the economy to a very solid 4.2% rise in annual GDP for 2021.
Read MoreDead Cat Bounce for Retail Sales
Retail sales bounced in January, rising 1.8% in seasonally adjusted terms, but that still left them well adrift of December’s huge 4.4% slump.
Read MorePrice Check Problems Hit Woolies
Higher costs – especially at its core supermarkets business – hit Woolworths in the half year to December as Covid, labour shortages and supply chain problems impacted its operations.
Read MoreRetail Rumblings: COL, BST, CGC
Mixed results yesterday from three retailers or suppliers to the sector – Coles, Best and Less, and Costa Group – but all saw their shares rise, going against the broader market selloff.
Read MoreEarnings Round-Up: Retail a Hard Sell
While the Australian jobs market remains solid in the face of Covid Omicron, costs associated with handling the impact of the pandemic are making life tough for the retail sector.
Read MoreJB Hi-Fi Buyback News Well Received
Investors loved the news that shareholders in consumer electronics retailer JB Hi-Fi will get a $250 million ‘gift’ via a buyback to help make up for a lower interim dividend.
Read MoreCost Blowout Hits Temple & Webster
Online furniture and homewares group Temple & Webster spent more on marketing and consulting services in the half year as net earnings dropped to $7.2 million, a fall of 40.2%.
Read MoreBourse Discourse: CTT, ALL
A disappointing sales report on Thursday saw shares in online retailer Cettire fall more than 20%, while poker machine giant Aristocrat suffered a setback to its expansion plans.
Read MoreGlobal Supply Chain Bottleneck Nicks Scali
Furniture retailer Nick Scali has warned investors that persistently high international shipping costs will likely cut earnings in the current second half of the of the June 30 financial year.
Read MoreKogan.Comes Up Short Again in December Half
Shares in online retailer Kogan.com fell more than 12% to $6.15 on Thursday after another weak trading update and soft early figures on earnings for the December half.
The shares
Read MorePremier Bucks the Trend with Strong Result
Solomon Lew’s Premier Investments has gone against the trend of weak updates from Australian retailers with a solid early report on its performance in the first half of 2021-22.
Read MoreMyer Joins the Queue of Struggling Retailers
Myer has become the latest retailer to warn of the damage done to earnings from last year’s lockdowns and the sudden advance of the omicron variant of Covid in December through January.
Read MoreAdairs Slumps 20% on Sales Downturn
Adairs shares slumped more than 20% yesterday after the company joined the list of retailers warning of damage done to sales and earnings by last year’s Covid-driven lockdowns.
Read MoreJB HiFi Shares Jump 6% as Sales Hold Up
Shares in leading electronics and whitegoods retailer JB Hi-Fi rose strongly yesterday after it unveiled a better-than-expected result for the first half of the new financial year.
Read MoreRedbubble Forever Blowing It
Yet another disappointing trading update from online retailer Redbubble saw the company’s shares hammered more than 20% in Tuesday’s trading session.
Read MoreWesfarmers Shares Jump Despite Cagey Update
Wesfarmers shares rose sharply yesterday despite a substantial downgrade for sales growth and profits as Covid Omicron took a toll on sales in two key chains – Kmart and Officeworks.
Read MoreWesfarmers Makes a Stand with API Holding
Wesfarmers’ decision yesterday not to sell its 19% stake in API is seen by most market pundits as effectively being a blocking move against the bid from rival Woolworths.
Read MoreNew Normal Catches Up with Woolworths
Shares in Woolworths were whacked hard on Tuesday after the company revealed a shock first half earnings downgrade because of soaring Covid-related costs.
Read MoreStrong Retail Sales Data Now Yesterday’s News
Ahead of the dramatic impact of the new Covid variant on world markets Friday, October retail sales data showed Australian shoppers spent heavily once the Delta lockdowns were eased.
Read MoreUS Retailers in Need of Some Therapy
It was a miserable week for America’s second tier retailers ahead of the huge end-of-year selling season, with poor sales and earnings reports seeing dramatic falls in share prices ranging from 14% to 29%.
Read MoreHarvey Norman Slump a Sign of Broader Retail Malaise
The big slide in sales and profits reported by Harvey Norman yesterday is a ‘tell’ for investors thinking about how the retail sector will fare in next February’s interim reporting season.
Read MoreUS Retail Figures Show Inflationary Creep
There’s no denying inflation was evident in the data, but the surge in US retail sales was very real in October and shows that consumption remains buoyant heading into Thanksgiving-Christmas.
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