Today
Super Retail posts record $4.2b sales, but costs squeeze profit
The owner of Supercheap Auto and Rebel Sport said higher interest rates and fuel prices are weighing on consumer sentiment.
Yesterday
O’Rorke, Liberman-backed group ring in Queensland mall sales for $210m
Brisbane developer Don O’Rorke and Melbourne investor CVS Lane will reinvest the sale proceeds into more shopping centre projects in the buoyant region.
Temple & Webster’s ‘choose your own adventure’ earnings report
Investors were unimpressed by the online furniture retailer’s lack of guidance on its sales outlook, after it delivered a 62 per cent drop in annual profit.
This Month
Privacy Commission cautions retailers testing facial recognition tech
After it was revealed that Coles and Woolworths have made investigations into using facial recognition technology, politicians and regulators enter the debate.
JB Hi-Fi boss pins hopes on Black Friday to turn around sluggish sales
The electronics retailing giant posted record annual sales of over $11 billion, but flagged weaker trading across the business in the final quarter of the year.
Coles, Woolworths trial facial recognition tech amid retail crime wave
The supermarket giants have both tested using the controversial tools, but say a final decision on rolling them out across the country hasn’t been made.
Hot hydration brands chase big valuations amid global wellness boom
Australian start-ups Hyro and Sodii are expanding overseas at a time when global consumer giants are spending big to acquire the latest viral product.
From Canberra gym to global powerhouse: Elite Supplements hits Asia
Australia’s largest nutrition and supplements chain has signed a deal to open at least 50 stores in the Philippines over the next decade.
Cue Clothing’s British owner puts brand on the block after 16 months
Hilco, a specialist in turning around distressed assets, is testing the market for the label and its sister brand Veronika Maine, appointing FTI Consulting.
Solomon Lew’s Premier to shut Peter Alexander stores in the UK
Premier also lowered its guidance for annual earnings, while its troubled stationery brand Smiggle has been hit by a wave of senior staff resignations.
Metro Petrol and its wealthy owners feel heat of illegal tobacco raid
The country’s largest independent operator of service stations said it did not know of the alleged illicit sales, and had a “zero tolerance” approach.
David Jones loses CFO as suppliers fume over late payments
The upmarket department store giant, now owned by private equity, has hired former Myer executive Nigel Chadwick to take over as it negotiates with brands.
Harli + Harpa founder wins US trademark battle against Lovisa
Shane Fallscheer has won a trademark dispute against his former employer, which tried to block his brand name in the US two years ago.
Coles confirms outsourcing, says keeping costs down is ‘critical’
In an email to staff, the supermarket’s chief executive Leah Weckert said the deal with Accenture was also about getting access to skills and technology.
Nick Scali’s overseas expansion sparkles but local buyers back off
The furniture retailer recorded a strong profit increase in the last financial year, but warned Australian shoppers were holding back from big-ticket purchases.
Coles lands Accenture deal to send hundreds of office jobs to India
The supermarket giant wants to cut costs and invest in online operations, following other major Australian companies in sending corporate positions to India.
Hong Kong jeweller Lukfook bets on Australia’s Chinese diaspora
High demand for gold jewellery, despite the falling price of the metal, has led Lukfook to open two stores within the same Sydney shopping centre.
David Jones plans to pay brands over months in frantic bid to restock
Suppliers had hoped the refinancing of a major loan by the private equity-owned luxury department store giant would end months of slow payments for goods.
Dan Murphy’s owner flags big profit drop as Hrdlicka plots turnaround
The Endeavour CEO’s turnaround plan is causing some short-term pain at the drinks giant, as she streamlines the business to shore up profitability.
Ben Carroll’s first test is keeping shop workers alive
The horrific alleged attack on a Melbourne retail worker on Saturday is an extreme and devastating example of the violence playing out in stores across Victoria.
