Retail

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.

ANALYSIS: A recent rise in share prices for listed retailers reflects some positive signs across the economy.

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.

Rosendorff’s new owner is keen to build on the legacy of one of the city’s best-known jewellery stores.

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.

The competition watchdog says it will not block Wesfarmers' $230 million acquisition of Catch.com.au operator Catch Group.

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.

Michael Hill International says it will spend $10 million to $25 million to compensate employees who were underpaid over a six-year period.

The state government is calling for food, beverage and retail businesses to submit proposals to operate three commercial spaces in the new museum.

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.

Supermarket giant Woolworths is combining its liquor and hospitality businesses ahead of a divestment next year.

The Australian Securities and Investments Commission has appointed Morgan Stanley to sell a stake of approximately 12.9 per cent in Yowie Group, which the regulator seized in April.

The fact that online retail still comprises a relatively small part of total sales is cold comfort to bricks-and-mortar businesses.

Fresh supermarket proposals are emerging across a range of near-city suburbs, including Highgate, West Perth, Nedlands, Inglewood and Como, as retail groups respond to community demand for modern shopping facilities.

Food distributor Blue Cow Cheese has been placed into administration, with Cor Cordis’s Joseph Nipps and Clifford Rocke appointed as administrators.

Collins Foods has lifted its payout to shareholders after strong sales at its Australian KFC network helped the company boost full-year profit 20.3 per cent to $39.1 million.

The Australian Competition and Consumer Commission says it has concerns about AP Eagers’ $2.3 billion takeover of Automotive Holdings Group, due to a potential impact on competition in new car retailing in NSW.

Metcash has swung to a $192.8 million full-year profit after cycling through its South Australian contract impairments, but its share price has taken a tumble after a decline in food earnings and higher finance costs weighed on the IGA supermarket supplier's underlying result.

Jacquie Chan is set for a busy few weeks, with four new venues under the Miss Chow’s Group banner set to open by the end of July.

Coles shares have hit a new high after the supermarket announced a $1 billion cumulative savings target over four years to compete with new discount grocery market arrivals such as Lidl and Kaufland.

Wesfarmers says full-year earnings from its department stores could fall by as much as $103 million after sales at the struggling Target chain fell by 2.3 per cent so far in the second half.

The ACCC is examining whether a proposed takeover of Ruralco Holdings by a Canadian fertiliser giant could reduce wholesale competition and lead to discrimination against some independent retail stores.

Wesfarmers shares have hit an all-time high on the same day it announced the $230 million acquisition of online retailer Catch Group.

The administrators of Perth-based Transit Clothing have announced that the business will close and cease trading at all remaining store locations within the coming week.