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Wesfarmers abandons costly UK move

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.

AHG slumps on trading update

Shares in Automotive Holdings Group slumped today after the company flagged challenging market conditions and a drop in retail margins due to regulatory changes.

WA shopping centres go solar

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 leadership changes

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.

Thermomix hit with $4.6m court fine

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.

Bringing Wesfarmers back to health

Wesfarmers could find the healthcare sector offers more appeal than retail, as US giant Walmart makes its own moves in that direction.

Thriving market for modest fashion

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.

Board Moves: John Gillam, Kim Horne

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.

Wesfarmers cuts off costly tail

Opinion: Wesfarmers will be a much smaller business after the Coles spin-off is done.

David Jones makes a move in Mandurah

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.

Riverton Coles sells for $32m

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.

Retail sector feeling the heat

Analysis: The franchising model could become the latest victim of the pressure being heaped on the retail sector.

Wesfarmers to spin-off grocery giant Coles

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.

Ausdrill into ASX 200

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.

Costco plans $55m Perth warehouse

International retail giant Costco is planning to build its first Western Australian store at Perth Airport, located alongside the giant DFO Perth store currently under construction.

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.

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.

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.

Wesfarmers strikes out on Homebase

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

Cashies boss to rebuild cred

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

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