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Australia Fair to get $15 million revamp

CAMERON ATFIELD 11:13am A proper CBD for the Gold Coast has come a step closer, with mayor Tom Tate backing a $15 redevelopment of Southport's Australia Fair shopping centre.



Billabong posts $233 million loss despite sales jump

While Australia performed well,  sales and earnings continued to go backwards in the Americas and losses increased in Europe.

Sue Mitchell 5:08pm Surf and skatewear retailer Billabong International has increased sales for the first time in three years but underlying earnings have continued to slide, weighed down by its American and European operations.


Pacific Brands to place future in Bonds, Sheridan

Pacific Brands is set to focus on its Bonds and Sheridan labels.

ELI GREENBLAT Pacific Brands shareholders' white-knuckle ride from meagre profit to gaping losses is not over yet.


Pacific Brands to sell King Gee, Hard Yakka workwear to Wesfarmers as profit tumbles

Bonds is part of Pacific Brands stable

Sue Mitchell Pacific Brands is poised to sell off famous brands like Hard Yakka and King Gee after forecasting another difficult year in 2015.


Rivers purchase spoils Specialty Fashion profit

Specialty was forced to aggressively discount Rivers stock to make way for newly acquired product.

ELI GREENBLAT Specialty Fashion Group, whose chains include Millers, Rivers and City Chic, has posted a slight dip in full year profits as consumers retreated into their shells after the release of the federal budget and rising unemployment added to the uncertainty swirling around the retail sector.

Pacific Brands shareholder pleads for vote on asset sell-off

There is speculation that Bonds could be sold by Pacific Brands.

Sue Mitchell Pacific Brands’ largest shareholder has urged the board to seek investor approval if it plans to sell off major assets as part of a strategic review.


Kathmandu chief Peter Halkett to pitch his tent elsewhere

Peter Halkett is to leave outdoor retailer Kathmandu after eight years.

Sue Mitchell The long-serving chief executive of outdoor clothing retailer Kathmandu, Peter Halkett, plans to step down two months after the company releases its 2014 results.

Myer edging out of electronics

generic thumbnail, shopping, shoppers

Simon Evans One of Myer's most senior executives, Tony Sutton, says the department store chain is likely to keep shrinking the size of its electronics departments and devote more floor space to other categories because electronics sales continue to be soft.


Surf wear chain catches Billabong wave

SurfStitch, which started selling just 10 brands in Mona Vale in 2008, now sells more than 600 brands and 24,000 product lines, from big brands such as Billabong, QuickSilver and RipCurl to obscure European brands such as Bensimon.

Sue MItchell An online surf wear business that began life in the backyard of a northern beaches home in Sydney six years ago could be worth at least $200 million after buying out its major shareholder and largest competitor, ­Billabong International.


Breville shares hit hard as CEO Lord exits


Sue Mitchell Household appliance maker Breville said its full-year net profit fell 1.9 per cent fall to $48.8 million, hurt by an end to its Keurig distribution rights, and in a surprise announcement said chief executive Jack Lord was leaving the company effective immediately.


Wesfarmers downgraded to 'sell' after cash splash

Wesfarmers shares are down over 1 per cent today.

Misa Han Wesfarmers shares have been hit with multiple downgrades, as analysts look past the generous payout that sparked a rally on Wednesday and focus on the tough operating environment several of the conglomerate’s divisions are facing.

Gerry Harvey calls in debt, will take control of Nathan Tinkler's Patinack Farm

Gerry Harvey will sell off Nathan Tinkler's entire Patinack Farm thoroughbred racing empire.

Donna Page Gerry Harvey has called in his debt and will sell off Nathan Tinkler’s entire Patinack Farm thoroughbred racing empire.


Treasury Wine plunges into red amid takeover battle

Treasury has posted its first annual loss after writing down the value of some of its brands, infrastructure and equipment.

Simon Evans Treasury Wine Estates, which has received two separate $3.4 billion buyout proposals from private equity firms, has plunged to an annual loss of $101 million after suffering heavy asset write-downs.

I'm the shareholders' friend, says Wesfarmers' Richard Goyder as he pays special dividend

Richard Goyder has deposited a dividend in shareholders'’ pockets.

ELI GREENBLAT Wesfarmers boss Richard Goyder has painted himself as the ‘'shareholders’ friend'’ after thrusting a further $1.1 billion in special dividends into investors’ pockets, while also vowing he won't pay silly prices for a bolt-on acquisition with the piles of cash still sitting on the conglomerate’s balance sheet.

Coca cola boss slams predecessor as earnings dive

ELI GREENBLAT Coca-Cola Amatil boss Alison Watkins has exposed the blunders of her predecessor Terry Davis, especially in the last year of his 13-year reign, as cuts to sales staff, not visiting retail customers enough and poorly pitched promotions sparked a collapse in earnings and its flagship brands in need of repair.


Wesfarmers pays special $1 dividend as profit rises

Wesfarmers will return $1.1 billion, or $1 a share to investors.

Sue Mitchell Solid earnings growth at Coles, Bunnings and Officeworks has offset weaker earnings from coal, Target and chemicals, lifting Wesfarmers’ full year underlying net profit by 6.1 per cent to $2.39 billion.


Apple shares rise to record amid optimism about new products

Investor hopes that Apple boss Tim Cook will boost earnings with new whizzbang products such as a smartwatch device have lifted the share price.

Apple's stock closed at an all-time high in New York, surpassing a 2012 record as investors look ahead to new products such as bigger-screen iPhones and a wristwatch-like device that may jump-start revenue growth.


Coca-Cola Amatil's profits crunched in supermarkets battle

Pricing pressure in the supermarkets and weaker sales in convenience stores weighed on Coca-Cola Amatil's margins.

Sue Mitchell Weaker sales in convenience stores and petrol stations and pricing pressure in supermarkets crunched margins in its earnings engine room, the Australian beverages business.


The Reject Shop profit plummets

Full-year profit for the year ending June 30, fell 25.4 per cent to $14.5 million.

MAX MASON The Reject Shop is pinning its hopes on Christmas sales to stop an earnings downward spiral, after profits fell by more than 25 per cent last year.


KFC beats expectations but Sizzler sinking for Collins Foods

Same-store KFC sales rose 3 per cent.

Sue Mitchell Fast food retailer Collins Foods has tried to fend off criticism from dissident shareholder Stephen Copulos by releasing a trading update which showed that earnings rose more than 20 per cent in the first quarter of 2015.

Peter Costello buys into retail debate

Sue Mitchell Former federal treasurer Peter Costello has gone into bat for the major retailers, arguing against the introduction of an effects test as part of the Harper review of competition laws.

David Jones not turning into Target, says Woolworths SA

 Ian Moir Mr Moir says Woolworths remained committed to the house of brands strategy originally introduced by former David Jones chief executive Peter Wilkinson almost 14 years ago

Sue Mitchell South African retailer Woolworths will meet in the next few weeks with David Jones’ suppliers to discuss which brands will go and which will stay under its private label strategy.


Coca-Cola's Monster deal turns founders into billionaires

Coca Cola has paid $US2.15 billion to gain traction in the booming energy drinks market.

Monster founders Rodney Sacks and Hilton Schlosberg wanted to get into the packaging business. Frustrated in their attempt to find a company to buy, the partners took a tip from an investment banker and purchased debt-laden soda maker in 1992. Two decades and a whole lot of caffeine later, the partners have emerged as billionaires.


Dan Murphy's plan to crush online liquor rivals

Dan Murphy's already has 46 per cent of the online liquor market, but Woolworths wants more.

Simon Evans Supermarket and liquor giant Woolworths is in the final stages of a plan to crush rival online liquor retailers with a dramatic expansion of its Dan Murphy’s online business.


Aldi to step up challenge to supermarket giants Coles and Woolies

The German chain's expansion in Australia could force local rivals to cut prices, putting further pressure on suppliers, analysts say.

Sue Mitchell Discounter Aldi could almost double sales in five years, challenging the stranglehold of Coles and Woolworths over Australia’s $85 billion grocery market.


Bet365 accused of misleading punters with 'free' and 'bonus' offers

The consumer watchdog has launched separate Federal Court actions against betting agency Bet365 and kitchen blender supplier OmniBlend Australia.

MELANIE KEMBREY The consumer watchdog has launched court action against Bet365, accusing the online betting agency of misleading punters with "free" and "bonus" offers.

Wine companies get better protection under Woolworths code

Simon Evans Australia’s 2,500 wine companies will gain better protection in their dealings with supermarket and liquor giant Woolworths, with a new set of principles governing the conduct of both parties officially signed after more than 12 months of negotiations.


Carsales profits boosted by overseas market

Carsales said its full-year net profit after tax rose 14 per cent to $95.5 million.

Jake Mitchell Carsales said its full-year net profit after tax rose 14 per cent to $95.5 million.

Woolworths eases off on Masters break-even vow

ELI GREENBLAT A bruising battle with market leader Bunnings and rising losses at its hardware stores has forced Woolworths to walk away from a pledge that its start-up Masters home improvement chain would break even by next year.


Amazon tactics under scrutiny after new battle with Disney

Actor Chris Evans as Captain America in the film Captain America: The Winter Soldier

Cecilia Kang Amazon's business tactics are again under the spotlight, after the online retailer reportedly removed pre-orders for Disney blockbusters.

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