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Retail

Coles hits new high on $1bn savings target

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.

Target sales sag further for Wesfarmers

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.

ACCC flags Landmark-Ruralco merger concern

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.

All-time high for Wesfarmers shares amid $230m purchase

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

Transit Clothing to close its doors

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.

Lotterywest lifts retailer commissions

The 500 retail businesses that earned $63 million selling Lotterywest products last year can look forward to higher incomes after the state government agreed to increase their gross commission.

Crypto gains currency in Freo

Several businesses in the Fremantle area are enabling payment with bitcoin and alternative online currencies.

Wesfarmers taps Warburton

Wesfarmers has appointed a Perth-based company director and member of the Takeovers Panel to its board as a non-executive director.

German giants will bring fresh competition to retail

Two new German supermarket businesses covering the top and bottom ends of the market are expected in Australia next year.

Rosendorff name saved by local jeweller

The receivers of Rosendorff struck a deal last night to sell the jewellery business to an unnamed local buyer already in the jewellery business.

Perron buys Westfield centre stake for $575m

Privately-owned Perth company Perron Group has added to its vast property portfolio by purchasing a 50 per cent stake in Sydney's Westfield Burwood shopping centre for $575 million.

Liquidation as pressure builds at Yagan Square

Two businesses at Yagan Square have shut up shop in recent weeks, with warnings more may follow as tenants grapple with low foot traffic.

Checkout squeeze on centre landlords

OPINION: Damaging supermarket prices wars and more online shoppers have turned the screws on a besieged retail property sector.

AHG downgrades full-year profit

Automotive Holdings Group has downgraded its profit guidance for 2019 due to weak car sales and the performance of its refrigerated logistics division, a week after it recommended an improved takeover offer from rival auto retailer AP Eagers.

Lamborghini aware of curves, optimistic on WA

Car sales in Western Australia might have been down again in April but there’s a sense of optimism about the Australian luxury vehicle market at Lamborghini, as the brand positions itself for two major automotive trends.

Rosendorff receivers liquidating assets

After 55 years of business, iconic Perth jeweller Rosendorff has been placed in receivership.

AHG backs AP’s improved takeover bid

Automotive Holdings Group’s $2.3 billion takeover from rival AP Eagers is set to go through, after AHG urged its shareholders to accept a revised offer from AP.

ALDI says it contributed $139m to WA

A report commissioned by ALDI has found the German supermarket giant contributed over $139 million to Western Australia’s economy in 2018.

AP speeds to majority AHG stake

AP Eagers has acquired a provisional majority stake in Automotive Holdings Group, just a week after AHG told shareholders not to accept the offer until it released its target statement on May 8.

IGAs feel pinch as Aldi rolls in

Perth's grocery wars, amplified by giant Aldi’s market push and price cuts by Coles and Woolworths, have claimed five struggling smaller supermarkets over the past five months.

AP edges closer to AHG majority stake

AP Eagers has increased its provisional stake in takeover target Automotive Holdings Group, the second time in less than a week, to 42.62 per cent.

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