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Retail

Woolworths’ first-half profit soars 37%

Woolworths' first-half profit jumped 37.6 per cent to $969 million after comparable food sales at its Australian supermarkets rose 4.9 per cent.

Woolworths pulls out of local liquor association

Woolworths’ liquor arm has resigned from the Liquor Stores Association of Western Australia, following the association's support for state government plans to restrict the growth of large liquor stores, such as Dan Murphy's and First Choice.

Wesfarmers profit down 86% on write-downs

Wesfarmers' first-half profit has plummeted 86 per cent to $212 million on the back of more than $1.3 billion in impairments against its UK hardware business and Target department stores.

Cashies delivers on profit expectation

Cash Converters International has recorded an 18 per cent decline in net profit for the half year to December as the company transitions its business under chief executive Mark Reid.

Yowie tumbles on US competition

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.

Myer CEO pushed out the door

Myer chief executive Richard Umbers has been forced to resign, but the board is sticking with his turnaround strategy.

JB Hi-Fi shares slump on margin warning

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.

Online trade shifts hours debate

As part of the 25-year Business News anniversary, we take a look at how the retail trade debate has changed.

Myer shares dive after new profit warning

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 starts moves against Myer board

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.

Retail spending slips in December

Retail spending was more sluggish than expected in December, following a surprisingly strong lift in November.

Wesfarmers strikes out on Homebase

ANALYSIS: Investors are taking note of Wesfarmers’ fraught foray into the UK hardware market.

Wesfarmers takes $1.3bn hit on UK, Target

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.

Cashies boss to rebuild cred

One year into his new job, Cash Converters chief executive Mark Reid is on a culture change journey.

Stockland gets green light for new shopping centre

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.

Innovation key for retail

New research paints a more optimistic view of traditional retailers’ future following the local arrival of Amazon.

Getting to grips with Amazon in the retail jungle

It may still be early days, but Amazon’s arrival in Australia has yet to damage the numbers for some high-profile traditional retailers.

$150,000 fines for Pastacup breach

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.

More time to shop this Christmas

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.

Retailers becoming more positive

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.

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