Writing on the Wall for Retail Over-Correction
Adairs is the first major retailer to flag to investors the impact of the RBA-driven slowdown on its 2022-23 performance with a weak trading update on Friday.
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Inflation, Rates Finally Lower Volume on JB Hi-Fi
The reality of the Reserve Bank’s rate rises and falling real household incomes has finally caught up with electronic and whitegoods retailer JB Hi-Fi.
Read MoreRetail Sales Well Continues to Dry Up
Australia’s retail sales data continued its recent drift in March, according to the latest monthly report from the Australian Bureau of Statistics.
Read MoreSteady Quarter for Woolies, All Things Considered
Supermarket giant Woolworths has topped Coles in reporting an 8% rise in March quarter sales after its rival revealed a 6.5% rise of its own in its quarterly update last Friday.
Read MoreBridge Street Bites: TCL, ABY, BST
News from the Monday trading session at the Australian Stock Exchange from Transurban, Adore Beauty and Best & Less.
Read MoreSuper Man Finally Hangs Up His Cape
Reg Rowe, founder of Super Cheap Auto and then CEO and chair of its listed successor Super Retail Group, has stepped down after a 51-year association with the company.
Read MoreViva’s OTR Foray a Marriage of Convenience
Viva Energy, the owner of the Shell brand in Australia, is making a big bet – with plans to spend a total of $1.4 billion on dramatically expanding itself into non-fuel retailing.
Read MoreRetail Weakness Rippling into Labour Market
The Reserve Bank’s rate rises might be taking their time to have a substantive impact on inflation and the labour market, but they are certainly making their mark on retail employment.
Read MoreRetail Sales Finally Feeling the Rate Rise Pinch
Retail sales were again flat to weak in February, continuing the lacklustre growth first seen last September as the rapid rises in interest rates started biting at consumer spending.
Read MoreKMD Brands Climbing Every Mountain
The end of Covid lockdowns and strong market recognition saw KMD Brands’ trio of labels – the original Kathmandu, Oboz and especially RipCurl – power to a record first half performance.
Read MoreLatitude Hacking Leaves Retailers in the Lurch
Major retailers led by JB HiFi and Harvey Norman will have to find new sources of consumer finance after the hacking crisis at Latitude Financial worsened considerably.
Read MoreInvesting in Luxury: A long runway for growth
Swetha Ramachandran, Manager of GAM Investments’ luxury brands equity strategy, outlines eight reasons why she believes luxury investing has a long runway for growth.
Read MoreMyer Goes Straight to the Top of the 1H23 Retail Class
Myer delivered on Thursday what was arguably the best result from the retailing sector for the first half of the 2022-23 financial year, more than doubling net profit to $65 million.
Read MoreHarvey Norman Unable to Mask Post-Covid Funk
The post-pandemic slump ensnared Harvey Norman in the December half and the weakness has deepened in the early part of 2023, with double digit falls across its Australian stores.
Read MoreColes Breaking Records and (Finally) Smashing Ceilings
Supermarkets giant Coles has appointed the first female CEO in its 100-year plus history after earlier reporting a cost cutting-driven record interim profit of $643 million.
Read MorePayout Upped but Distant Clouds Loom for JB HiFi
A higher dividend was about all the good news in JB HiFi’s interim report on Monday as sales growth in Australia slowed dramatically, especially for its Good Guys whitegoods business.
Read MoreDiscount Retailers Taking Market Share
Joshua Pettman from Platinum Asset Management explains the recent work his firm has done on US retailers that has helped them understand the current opportunities in this sector.
Read MoreScali Numbers Lacking that Certain Polish
Nick Scali produced a mixed interim report on Monday – one from which some investors and commentators mistakenly construed that the retail slowdown had not impacted it.
Read MoreSportswear: Fashionable On and Off the Field
In a world of big numbers, powerful brands in global sportswear look advantaged as they pursue their goals of growth and winning greater share of global apparel spending.
Read MoreShoppers Heavily Discount Retail Sector
After some contradictory updates from various retailers, December data from the ABS has confirmed it was a poor month for the sector overall with sales down 3.9%.
Read MoreThe Paradox of Emily in Paris
Claire Jervis from Pengana Capital takes a look at why most brands’ commitments to ‘Sustainable Fashion’ are as empty and vapid as the storyline of Emily in Paris.
Read MoreFar from Best and Much Less for Iconic Retailer
Best & Less told the ASX this week that weaker than expected consumer demand and margin pressure has lead to a decline in profit for the six months to December.
Read MoreMyer Registers Best Sales Figures in Years
Myer has joined the list of retailers that did better than expected in the December half – surprising investors yesterday with its strongest sales figures for years.
Read MoreWeak Sales Update Sees Redbubble Popped Again
Another less than inspiring market update on Wednesday from online retailer Redbubble saw its shares sold off for the umpteenth time in the past couple of years.
Read MoreJB Rides Retail Strength to Solid Half-Yearly
JB HiFi delivered a strong rise in sales and a double-digit jump in half-year profits thanks to strong demand during the Black Friday and Boxing Day promotions.
Read MoreBourse Discourse: SUL, BBN
Mixed results for the December half on Monday from two specialist retailers, with Super Retail reporting record sales and Baby Bunting suffering a near 60% slump in earnings.
Read MoreSpending Data Hints at Soft Start for Retailers
We had a key pointer yesterday towards the strength of retail consumption when the latest spending data showed a solid but slowing rate of growth in November.
Read MoreWoolies Dips its Paw into the Specialty Pet Game
No booze, hotels or pokies and no food but more pets for Woolworths as it continues its move out of supermarkets into other areas of the $400bn a year plus retailing market.
Read MoreMetcash Looking (and Selling Lots of) the Goods
A confident outlook for the rest of 2022-23 from Metcash, if the tick-up in interim dividend and solid sales growth seen in the first half of the year are any indication.
Read MoreMarket Taken In by Temple & Webster Turnaround
Investors surprised yesterday by lapping up what was a mixed trading update from online retailer Temple & Webster, sending the shares more than 18% higher at one stage.
Read MoreSales Drop a Win-Lose Situation for Retailers
The RBA got what it wanted, as the ABS reported a 0.2% dip in retail sales for October – the first such fall this year, after much resilience in the face of rising rates.
Read MoreLower Stocks, Higher Shares for Kogan
Shares in online retailer Kogan jumped more than 10% on Thursday after founder Ruslan Kogan told the company’s AGM that its overstock situation was easing.
Read MoreHarvey Norman Looking to Treble Malaysian Ops
Retail chain Harvey Norman has revealed plans to radically expand its Malaysian operation over the next six years by boosting store numbers almost threefold.
Read MoreMarket Says Thank You to Bullish Scali Update
Shares in furniture retailer Nick Scali were up more than 11% at one stage yesterday after a very bullish update on how the company has started 2022-23 with a rush.
Read MoreSoggy Start to FY23 Sees Best & Less Shares Slammed
Best & Less shares fell more than 13% yesterday on the back of a mixed start to the new financial tear and the company’s cautionary tone on trading conditions.
Read MoreBlack Friday a Blue Litmus Test for US Retailers
America’s annual ‘Black Friday’ shopping festival starting next Friday – the day after Thanksgiving – will, this year more than most, be a major test for US retailers.
Read MoreMarket Murmurs: NUF, GNC, KMD
Three pretty upbeat stories from companies reporting to the market on Wednesday, with Nufarm, Graincorp and the erstwhile Kathmandu all seemingly in good shape.
Read MoreMajor Spill in NZ Food Aisle for Woolies
Woolies shares fell to a 52-week low Thursday on the back of a surprisingly weak performance from its supermarkets and a big profit downgrade for its NZ food business.
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