Consumer confidence "nosedived" last week as the GDP results showed the Australian economy had entered a so-called per-capita recession, ANZ Banking Group analysis said.
Coles is offloading management of its 87 pubs, including four in Western Australia, in a $200 million deal with private equity controlled Australian Venue Co.
Harvey Norman has lifted first-half profit on a strong performance at its overseas ventures, but sales at the company's Australian franchises were weak.
Wesfarmers is handing more than $1 billion of the cash it raised by demerging Coles and selling other assets back to shareholders in the form of a special dividend.
Woolworths shares have taken a knock after the supermarket giant reported a disappointing first half and flagged subdued consumer spending for the foreseeable future.
Coles' supermarket sales slowed during the run-up to Christmas, while the newly demerged retailer's first-half profit slipped 29 per cent to $381 million as restructuring costs weighed on the balance sheet.
Woolworths has become the first national supermarket chain to dump its $1/litre milk range, with farmers saying Coles and Aldi must follow if they want Australian dairies to survive.
Rebel Sport owner Super Retail Group is set to repay six years' worth of unpaid overtime and allowances to retail managers in an expected $43 million pre-tax hit to first-half earnings.
JB Hi-Fi has lifted first-half profit 5.5 per cent to $160.1 million despite volatile holiday trading for the electronics and home entertainment retailer.
David Jones chief executive David Thomas has resigned after almost 18 months in the role and just weeks after results showed an improved first-half performance.
Coles has signed a new deal with petrol partner Viva Energy Australia after predicting earnings from its convenience store division to plunge this year more than 60 per cent.
One of Perth’s most prominent fashion designers has announced the closure of an internationally successful label, but hinted at plans for something big in the pipeline.
Coles will make a $146 million pre-tax provision in its first-half results as part of a distribution network overhaul that will cut both costs and jobs.
Menswear retailer Ed Harry, which employs 93 staff across 19 stores in Western Australia, has been placed in voluntary administration with an immediate clearance sale of merchandise coming into effect as creditors assess the business.
Under-pressure retailer The Reject Shop says it expects half-year profit to match earlier guidance, but the firm circling for a takeover wants a clearer picture of the company's Christmas sales performance.
SPECIAL REPORT: Three businessmen will have more impact than most on the state’s economic future, with Peter Coleman leading an oil and gas revival, Chris Ellison building a lithium empire, and Rob Scott reshaping Wesfarmers.
Wesfarmers has appointed mergers and acquisitions expert Mike Roche to its board as it seeks out fresh opportunities, after offloading Coles and exiting the UK hardware market.
Cash Converters International has appointed Bank of Queensland's Sydney-based group executive, Brendan White, as its new chief executive, starting in March next year.
Disruption, a demerger and divestments are shaping Wesfarmers’ long-term approach to growth, managing director Rob Scott told last week’s Success & Leadership breakfast.
The late Stan Perron, who passed away last Friday after building a $4 billion self-made fortune, started preparing for his succession more than 25 years ago.
The embattled Myer board has made a fresh pitch to shareholders ahead of a likely explosive annual general meeting on Friday, declaring the completion of its refinancing was a vote of confidence.
ANNIVERSARY SPECIAL: The ranks of WA’s largest public companies have changed dramatically over the past two decades, but Wesfarmers has been a constant near the top. This article is part of a special series to mark Business News' 25-year anniversary.
Coles shares have floated on the Australian Securities Exchange at $12.49, with Wesfarmers' price adjusting in early trade without the supermarket giant in its stable.
The war of words between Myer and Solomon Lew has escalated after the troubled retailer's shares went into freefall following its forced admission of another drop in sales.
Woolworths has announced the sale of its 540 petrol stations to UK-based EG Group for $1.73 billion, months after BP pulled out of a deal to buy the fuel business.
