Iconic Aussie sportswear brand Rip Curl has agreed to be acquired by Kathmandu in a $350 million deal that will create a $1 billion Australasian surfing and outdoor adventure company.
Premier Investments shares have surged to their highest value in nearly a year after the Solomon Lew-backed retail conglomerate lifted profit and hiked its payout on strong sales at pyjama shop Peter Alexander and Just Jeans.
Kathmandu's key Australian market appears to be weathering the retail chill, with sales of its signature puffer jackets helping offset a revenue decline in New Zealand and propel the company to a new full-year profit peak of $NZ57.63 million ($A53.3 million).
Auto dealer A.P. Eagers has succeeded in acquiring more than 90 per cent of all Automotive Holding Group shares, reaching that important threshold just hours before its offer expired.
SPECIAL REPORT: Landlords unwilling to budge on rents have been blamed for exacerbating Perth’s retail downturn, but leading leasing agents say the sector’s problems are substantially more complicated than the cost of tenancies.
The $270 million redevelopment of Fremantle’s Kings Square is indicative of the experiential emphasis retail property owners are embracing across the city.
Western Australia has bucked the national trend and recorded a 0.6 per cent rise in retail spend for July, underpinned by gains in the hospitality sector, according to the latest data from the Australian Bureau of Statistics.
Woolworths has raised full-year profit by 7.2 per cent to $1.75 billion after a robust second-half performance by its Australian supermarkets offset softness at Big W and the liquor division.
The company that manages the Galleria Shopping Centre has been fined $45,000 after it was found guilty of failing to ensure safe access and egress for persons who were not its employees, after an explosion at Galleria in 2015 killed two men and left two others with severe burns.
Wesfarmers has more than quadrupled its full-year profit to a record $5.51 billion, on the back of post-tax gains of $3.17 billion on the demerger of Coles and other divestments during the year.
Automotive Holdings Group has suffered a loss of $232.6 million for the 2019 financial year, following major asset write-downs to its automotive and refrigerated logistics businesses during the period.
Coles' full-year profit has slipped 9.1 per cent to $1.43 billion, despite an increase in supermarket comparable sales as it invested in supply chain improvements and restructured following its spin-off from Wesfarmers.
The owner of Rebel sports clothes stores and Supercheap Auto has recorded an 8.6 per cent increase in full-year profit to $139 million after pinning its hopes on what it calls a 'clicks-and-bricks' strategy.
JB Hi-Fi shares have surged after the electronics and whitegoods retailer lifted full-year profit 7.1 per cent to $249.8 million and tipped more to come.
Sales of new vehicles in Western Australia bucked the national trend and rose by 5 per cent in July, primarily due to the sports utility vehicle (SUV) market segment, marking the first overall increase in monthly sales since May last year.
A rebound in the local retail sector may be on the horizon, after Western Australia recorded the second largest rise in retail spending among states and territories, according the latest Australian Bureau of Statistics data.
Cash Converters International says it expects a loss of between $2 million and $4 million for the 2019 financial year, largely due to a class action settlement in Queensland.
Aurora Capital has abandoned its planned takeover of Yowie Group and says it would instead support winding up the Australian chocolatier if management cannot plot a convincing near-term turnaround strategy.
The competition watchdog has accepted AP Eagers' proposed takeover of rival car dealer Automotive Holdings Group, on the condition AP Eagers sells its dealerships in Newcastle and the Hunter Valley region.
Perth’s hospitality woes have continued, after fish and chip chain Sweetlips entered liquidation and Raine Square tenant Tim Ho Wan closed its doors after less than a year.
AP Eagers has offered to sell dealerships in Newcastle and the Hunter Valley region, as it aims to assuage the Australian Competition and Consumer Commission’s issues with its proposed acquisition of rival Automotive Holdings Group.
The consumer watchdog is taking Samsung to court for telling consumers that many of the four million Galaxy phones sold in Australia were water resistant, while knowing they were not.
