Shares in chocolate retailer Yowie Group dropped 21 per cent today after the company announced sales in the United States so far this quarter have been well down on expectations thanks to growing competition.
JB Hi-Fi shares have slumped despite a big lift in first-half profit, after the home electronics and entertainment retailer warned of margin pressures and issued lower-than-expected guidance.
Solomon Lew is calling on fellow Myer shareholders to "save the company" with a board spill after shares in the troubled retailer plummeted to a fresh all-time low on the back of its latest profit warning.
Premier Investments is acting on threats to oust the board of Myer with a request for the department store chain's shareholder register in a first step towards holding a vote to install new directors.
Wesfarmers is overhauling the leadership at its underperforming UK hardware business after the struggling unit was responsible for the majority of $1.3 billion in first-half writedowns and impairments.
David Jones' South African owner Woolworths will take a $713 million write-down on the value of the department store chain as Australia's tough retail market bites harder into the business.
ASX-listed property group Stockland is set to develop its fifth shopping centre in Western Australia after receiving state and local planning approvals for its Whiteman Edge Town Centre in Brabham.
Retail sales rose 1.2 per cent nationally to $26.4 billion in November, in seasonally adjusted terms, beating market expectations of an increase of 0.4 per cent, while Western Australian retail spending was up 1.4 per cent for the month.
The consumer watchdog plans to oppose the proposed takeover of Woolworths service stations by BP Australia, saying the deal would substantially lessen competition.
Grocery wholesaler Metcash has lifted first-half profit by 24 per cent to $92.9 million, despite a drop in sales across its supermarkets business, with WA sales hit by increased competition and soft economic conditions.
The competition watchdog has had its first major win enforcing a new franchising code of conduct, with the Federal Court today fining Pastacup franchisor Morild and co-founder Stuart Bernstein $150,000 for a failure to disclose he had been a director of two insolvent entities.
Perth’s shoppers will enjoy the same extended shopping hours as last year to buy presents and hunt for bargains, but employers want longer hours all year round.
Shares in Woolworths have risen after the supermarket chain unveiled strong first quarter food sales that continued to outpace the growth of rival Coles.
Supermarket giant Coles has suffered a slowdown in first-quarter sales growth as a rapid fall in the price of fresh produce and competition from a resurgent Woolworths keeps pressure on margins.
Solomon Lew has launched a new attack on the board of Myer and called on shareholders to help him oust the department store's directors at next month's annual general meeting.
Western Australian retailers have a positive view of business conditions in the year ahead, according to a recent survey by the Commonwealth Bank of Australia, with one third expecting an improved market in the 2018 financial year.
