ABS Data Confirms Local Retail Strength
Data from the Australian Bureau of Statistics yesterday confirmed what numerous AGM updates had told us about continuing strength in the local retail space.
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Retail Rumblings: JBH, SUL
Retailers JB HiFi and Super Retail Group both saw strong September quarter sales growth from an artificially low base in the corresponding period a year ago.
Read MoreFood Inflation Curbs Coles’ Sales Growth
Coles says that first quarter food inflation climbed 7.1% up from 4.3% in the June quarter which saw its supermarkets sales growth slow to a 1.6% rate to $8.8 billion.
Read MoreHuge Changes Afoot in US Retail Sector
The first serious consolidation for years is underway in American retailing, with supermarket giants Kroger and Albertsons set to merge in a $US24.6 billion deal.
Read MoreDiaper Change Needed for Baby Bunting
Baby Bunting has gone from high-flying rooster during the pandemic to unloved feather-duster after a gloomy trading update saw its shares belted 20% on Tuesday.
Read MoreAussies Continue to Shop Away their Blues
Another solid month for local retailers with August sales up 0.6%, confirming Australian consumers have yet to pull back significantly in the face of the RBA’s rate increases.
Read MoreMyer Spruiking the Good Times to Roll
Retailer Myer Holdings met its full year 2022 guidance, paid its highest dividend to shareholders in six years, and says it has posted its best sales start to a new financial year since 2006.
Read MoreMetcash Meeting Every Challenge
On the face of it a solid start to its 2022-23 financial year for Metcash, the country’s third-largest supermarkets, liquor and hardware chain operator, despite numerous challenges.
Read MoreHarvey Norman Result More the Lo-Fi Variety
Unlike rival JB Hi-Fi earlier this month, Harvey Norman revealed on the final day of the reporting season that it had suffered a small dip in sales and earnings for the year to June 30.
Read MoreThe Tumultuous Ride of a Meme Stock
Once thought of as the place to go in North America if you needed anything for your home, Bed Bath and Beyond has become a popularised stock that is on the brink of bankruptcy.
Read MoreAussie Shoppers Not So Easily Deterred
Australian shoppers were not put off by rising interest rates and prices in July as retail sales rose a solid 1.3% from June – a strong indication they are ignoring a lot of the gloom and doom.
Read MoreRecord Revenue but Profits Flat for Woolies
Woolworths found profit-making a hard slog in 2021-22, with the retail giant only able to convert a 9.2% rise in group revenue to a 0.7% rise in net profit for the year to June 30.
Read MoreEverything Seemingly on the Up at Coles
The downside to the strong earnings we are seeing for Coles and its rival food retailers is the pain being felt in the hip pockets of Australians due to higher prices for everyday goods.
Read MoreCompany Chatter: BRG, KGN, TRS
Poor market sentiment in Tuesday’s ASX session had a say in how the latest profit results from appliance maker Breville, e-tailer Kogan and discount chain The Reject Shop were received.
Read MoreLife’s a Mall as Scentre Sees Double-Digit Growth
The solid rebound in bricks and mortar retailing saw Scentre Group, the country’s biggest shopping centre operator, lift its profit by double digits in the six months to June 30.
Read MoreTrading Tidbits: LLC, NCK, RWC
Here’s Monday’s key June 2022 half-year results, featuring the latest from developer Lendlease, retail chain Nick Scali and plumbing supplies group Reliance Worldwide.
Read MoreTPW’s Designs on the Future Intact Despite Headwinds
Online furniture and homewares group Temple & Webster ran into some headwinds in the year to June just as the company was expanding other parts of its business.
Read MoreHaving Conquered Oz, JB HiFi Takes on New Zealand
Is the move by JB Hi Fi to go against the grain and spend the next three years upgrading and expanding its NZ operations a sign that it believes the Australian market is going ex-growth?
Read MoreRetail Sales Strength Not All that it Seems
When you look a bit deeper, the retail sales data for the three months to June released on Wednesday was not such a solid performance after all, especially taking prices into account.
Read MoreDiscretionary Spending the First Domino for US Retail
One small update on Wednesday from Best Buy told us a lot about the health of US retailing in the US – it is weakening and the problems are not just confined to the giant Walmart.
Read MoreReality Biting at Last for Local Retail Sector
Clear signs of a slowdown in June retail sales, with ABS data showing the smallest rise so far in 2022 and evidence that that much of the recent strength was due to rising prices, not volume.
Read MoreBond Street Bites: APRA, WOW, MYR
Two notable retirements in the local business world yesterday with the chairmen of both APRA and Woolworths hanging up the gold pen, while Myer upgraded its earnings forecasts.
Read MoreLate Walmart Downgrade Sets the Street on Edge
Walmart sent tremors through Wall Street and global retailing with a surprise after hours trading downgrade for the three months to June and for the rest of 2022.
Read MoreJB Hi-Fi Earnings Numbers Remain Sound
A surprisingly solid early update Tuesday from electronics and whitegoods retailer JB Hi-Fi, with the company reporting record sales and earnings for the 12 months to June.
Read MoreStock Snippets: ANZ, KMD
Wednesday’s ASX session saw ANZ Bank announce a deal to buy accounting software company MYOB, while retailer KMD Brands is still feeling the pinch from Covid-related lockdowns.
Read MoreRetail Good News Might Be Bad News for Rates
News that retail sales rose 0.9% in May to yet another monthly record will get the worrywarts calling for another big rate rise at the July meeting of the RBA next Tuesday.
Read MoreMetcash Registers Profit, Dividend Bump
Metcash shares jumped 4% on Monday after the country’s 4th ranking supermarkets group boosted annual dividend 23% and reported a solid rise in 2021-22’s revenue and earnings.
Read MoreMall 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 MoreSurprise 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.
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