Collins Foods, Australia's biggest KFC franchisee, has lifted full-year profit by 16 per cent, buoyed by the addition of new stores to its network, and despite the Western Australian market being an under-performer.
Metcash shares have rallied after the supermarkets wholesaler announced a $125 million share buyback alongside an impairment-driven full-year loss of $149.5 million.
Customers of local whitegoods and home appliance retailers Kambo’s and Liebe + Haus have been told they will need to wait several days before finding out if their credit purchases are still valid after the two jointly-owned businesses were placed into administration on Friday.
Metcash will take a $352 million hit in its full-year results due to weakness in the Western Australian economy and the decision of one of its South Australian supermarket customers not to renew its contract.
Cash Converters International has boosted its coffers with a $39.5 million capital raising, with the proceeds set to strengthen the company’s balance sheet and be used to reduce debt.
Wesfarmers has sold its struggling Homebase business for a nominal sum, with managing director Rob Scott confirming the UK hardware company has cost the conglomerate about $1.3 billion.
Westfield Corporation shareholders have voted in favour of a $33 billion takeover by Paris property giant Unibail-Rodamco, marking the end of an era for the Lowy family.
Shares in Automotive Holdings Group slumped today after the company flagged challenging market conditions and a drop in retail margins due to regulatory changes.
Two shopping centres in Perth’s north have been included in a $28 million solar power project being undertaken by ASX-listed Vicinity Centres, which is forecasting the creation of about 40 local jobs.
Wesfarmers has announced two leadership changes today, with Officeworks chief executive Mark Ward set to step down at the end of the year, while former New Zealand prime minister Bill English has been appointed to the board of the Perth-based conglomerate.
Coles' food and liquor sales rose in the third quarter, with parent company Wesfarmers citing lower prices and improved service and quality for customers.
Perth-based kitchen appliances firm Thermomix has been ordered to pay $4.6 million in penalties after the Federal Court of Australia found that the company misled customers when its products were found to be dangerously faulty.
Department store sales helped retail spending rebound sharply in February, but economists aren't getting carried away by the surprisingly strong result.
The market for modest fashion in South-East Asia is attracting attention as a potential export destination for a range of local designers, with dramatic growth expected in the next decade.
Former Bunnings managing director John Gillam has been named as the incoming chairman of building products company CSR while Macmahon Holdings has bolstered its board by recruiting former Alcoa executive Kim Horne.
The growing spectre of online shopping has not deterred one of the country’s largest retailers from investing in its bricks-and-mortar assets, with David Jones opening its fifth Western Australian store today as part of the final chapter of Mandurah Forum’s $350 million redevelopment.
Most of the 63 Myer stores around Australia are likely to be at break-even and the veteran retailer must shrink to survive, a new analyst's report says.
Myer's executive chairman has issued a damning indictment of the department store chain's performance under ex-chief executive Richard Umbers after it slumped to a $476.2 million first-half loss.
A private interstate investor has purchased the Coles complex in Riverton, which includes a supermarket, a First Choice Liquor, a TAB and a 300-bay carpark, for $32 million.
Investors have welcomed today's news that Wesfarmers plans to spin-off supermarket giant Coles and create a separately listed business that would rank among the 30 biggest on the Australian stock market.
A number of local mining companies have moved up the stock market rankings, with contractor Ausdrill included in the S&P ASX 200 index, while South32 has been admitted into the top 20 as part of the market’s quarterly rebalance.
Retail spending has had a quiet start to the year, struggling to make any significant gains, and economists don't believe it will change any time soon.
The competition watchdog is taking Woolworths to the Federal Court, accusing it of labelling its disposable picnic products as biodegradable when they are not.
Furniture and electronics retailer Harvey Norman's half-year net profit has slumped with franchisees' earnings falling amid a souring of the group's dairy investments.
