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Financial

Premier Retail looking to exit 350 stores in Australia and New Zealand

Premier Retail looking to exit 350 stores in Australia and New Zealand

Despite delivering a 29 per cent growth in net profit to $137.8 million for FY20, Premier Investments is looking to exit 350 stores across Australia and New Zealand due to unfavourable rent agreements. Und...
David Jones slammed for slow transition, Food business to be reviewed
H&M says its recovery from Covid-19 is much faster than expected
Kathmandu profit plummets as customers stay inside
Zara-owner Inditex posts $315 million half year loss despite second quarter rebound

Financial Archives

Allbirds completes US$100 million funding round, eyes new product categories

Funding round follows recent expansions in Japan and South Korea.

Premier Retail looking to exit 350 stores in Australia and New Zealand

Online could be the channel of choice for Premier Retail in the short term.

Retail sales slip in August: ABS

Turnover remains up on a year ago, however.

Kathmandu profit plummets as customers stay inside

Lockdown restrictions enacted during FY20 hit many clothing retailers hard, and Kathmandu is no exception.

Booktopia sales spike 28 per cent as lockdown feeds book lovers

Bookseller shipped 30,000 items a day in FY20.
Image of Harvey Norman chairman Gerry Harvey

Harvey Norman profit up 185.8 per cent, excluding Melbourne

Comparable sales rose 30.3 per cent across Harvey Norman's global business.

David Jones slammed for slow transition, Food business to be reviewed

Woolworths Holdings wants to get DJs Food to break even by 2022.

Zara-owner Inditex posts $315 million half year loss despite second quarter rebound

Fashion business saw strong sales growth after Covid-19 restrictions relaxed.
H&M streetwear collection

H&M says its recovery from Covid-19 is much faster than expected

Global fashion retailer H&M has beaten expectations for its quarterly profit, recovering much faster than expected.
Image of a woman wearing a face mask at a cafe

Business worried about end of stimulus

Almost two-thirds of medium-sized companies are concerned economic activity faces a significant decline.

QLD wage theft bill passed despite industry concerns

Employers who intentionally siphon money from staff could face ten years prison.

JobSeeker cuts to cost 145,000 jobs: Report

Cuts to JobSeeker and related payments will see the economy lose $31.3 billion, a report has found.
Almost-half-business-lockdown-early

More than half of Vic retailers glad restrictions weren’t eased, survey shows

Many do understand it will be ‘extremely difficult’ to survive the next few months.
Person typing on laptop

Customer behaviour settling, but August sales likely to fall: NAB

August retail sales are likely to be 2.4 per cent down, said NAB.

Permanent support for JobSeeker needed for sustainable recovery, says ARA

Support for JobSeeker or similar scheme is needed for Australia to have sustainable recovery, says head of ARA.
Grocery shopper in mask

Rise in retail sales in Q3 signals hope for coming months

Supermarkets, liquor stores, hardware and household goods were the big winners in retail, already exceeding pre-Covid sp...

Thousands of JobKeeper double-dipping tips

Thousands of businesses have potentially rorted JobKeeper payments but none have been penalised.
Solomon Lew and Mark McInnes

Solomon Lew fires shots at Myer over “shameful” results

The Premier Investments chairman has called for the Myer board to resign.
Blue Tiffany box and bag.

LVMH cancels Tiffany deal, setting up high-stakes legal stoush

French luxury-goods group LVMH has dropped its plan to take over Tiffany & Co, prompting the New York jeweller to announ...

Laybuy shares climb 45pc on ASX debut

New Zealand buy now pay later provider Laybuy has had a solid debut on the ASX after listing.