JB 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.
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Redbubble 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.
Read MoreEarnings Round-Up: Retailers Bring Season to a Close
Retailers dominate the final week of the US third quarter earnings season to be led by the industry majors, with the monthly sales report for October tomorrow also of huge interest.
Read MoreKathmandu Banking on Post-Lockdown Wanderlust
Outdoor gear retailer Kathmandu has confirmed the group’s sales have been hurt by the lockdowns in Eastern Australia, but sees an upturn with the staged re-openings in NSW and Victoria.
Read MoreWeak Retail Sales Data Hints at GDP Pullback
Australian third quarter GDP looks almost certain to show a big fall when released in early December after retail sales saw a record slide in volume terms for the three months to September.
Read MoreShop Talk: COL, JBH, API
Not easy to make a dollar in the retail space over the past couple of years. Here’s how three of the majors are faring: Coles Group, JB Hi-Fi, and Australian Pharmaceutical Industries.
Read MoreWoolies Numbers Register Poorly with Investors
Investors were not enthused about Woolworths’ September quarter update, despite the numbers looking good on paper thanks in part to another surge in online sales to a new high.
Read MoreLockdown Reality Bites Traditional Retail
Unlike a year ago when it was clear retailing was doing very well in the rebound from the first wave of the pandemic (especially online during the shutdown), this time around it’s a very mixed bag.
Read MoreKogan Shares Jump on Overstock Relief
Online retailer Kogan seems to have used some old-fashioned bricks and mortar retailing skills to slash the size of its stocks of unsold goods.
Read MoreOnline Sales Help Temple & Webster Continue to Flourish
More upbeat news from retailing with emerging online furniture and homewares operator Temple & Webster again confirming that the Covid lockdown has been very good for business.
Read MoreChanging of the Guard at Metcash
Australia’s third-biggest listed supermarkets and hardware group Metcash is changing CEOs with the incumbent, Jeff Adams deciding to retire and return to the US.
Read MoreRetail Sales the Bird of Ill-Omen for Oz Economy
The Australian economy is heading for a contraction of 4% in the September quarter, perhaps more, after retail sales, a key barometer of household spending fell for a third consecutive month in August.
Read MoreKathmandu, Sigma Feeling the Pinch
Outdoor retailer Kathmandu and pharmacy group Sigma have both given early hints of the damage the lockdowns since June have done to some retailers, with both reporting weak sales and earnings.
Read MoreMyer 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.
Read MoreHomeCo 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.
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