Listen to the HotCopper podcast for in-depth discussions and insights on all the biggest headlines from throughout the week. On Spotify, Apple, and more.

This included providing customers with lower prices and “deeper” promotions, simplified promotional programs, clearer specials explanations, and greater accessibility to pricing info through the supermarket’s site and app.

Woolworths also confirmed it was following the ACCC’s recommendation in publishing all product prices online.

“We have worked constructively with the ACCC to help it understand our business, the sectors in which we operate, our suppliers and supply chains, and the considerable competition we face,” Amanda Bardwell, Woolies’ CEO, said.

“We play an important role in the lives of millions of Australians, more than 200,000 teammembers, and our suppliers.

“We have taken steps to improve the experiences customers and suppliers have with us, andcontinue to listen carefully to all of them.

“We fully understand customers want us to make it easier to find value, especially as the cost of living remains their major concern.”

In September 2024, the national regulator took both Woolworths and its close competitor Coles to court over claims their respective staple “Prices Dropped” and “Down Down” campaigns had been misleading.

The ACCC claimed some products were sold at regular long-term prices – excluding short-term specials, sometimes for up to a year – before being increased by 15%.

Then, these same products would be included in Woolworths’ “Prices Dropped” and Coles’ “Down Down” promotions, the ACCC said, with new prices less than the previous spike but still higher than the regular long-term price.

The ACCC review that followed – and which Woolies responded to today – aimed at encouraging greater transparency in pricing among Oz supermarkets.

More market news

51st State: What is Trump’s endgame with tariffs – and what will it mean for Canada?

Meet GeoGeorge: The HotCopper poster so accurate he got hired as an analyst

In its findings reported today, the ACCC noted “ALDI, Coles, and Woolworths are some of the most profitable supermarket businesses among global peers and their average product margins have increased over the past five financial years.”

Woolworths has been higher after the news and at 10:59am the supermarket was trading at $29.68 – a rise of 5.44% since the market opened.

Join the discussion: See what HotCopper users are saying about Woolworths Group and be part of the conversations that move the markets.

The material provided in this article is for information only and should not be treated as investment advice. Viewers are encouraged to conduct their own research and consult with a certified financial advisor before making any investment decisions. For full disclaimer information, please click here.

Listen to the HotCopper podcast for in-depth discussions and insights on all the biggest headlines from throughout the week. On Spotify, Apple, and more.

At the top of the changelist was the appointment of former David Jones executive Kathy Karabatsas as Group Chief Financial Officer to replace Matt Jackman, who had held the position since February 2024.

Myer will also be replacing its Chief People Officer; Megan Collins is stepping into the role from next month, bringing human resources experience in the mining, food retail, and energy sectors, including at General Electric and Newcrest Mining.

The company’s new Chief Merchandising Officer will be Belinda Slifkas – who already works for Myer as General Merchandise Manager Apparel, Home, and Entertainment.

Two other appointees from outside Myer include new Chief Information Officer Mark Medwell – who has been with Cotton On for more than eight years – and Darren Wedding, appointed Chief Supply Chain Officer. The latter joins Myer after previous experience at multi-brand business Super Retail Group.

Also added to the executive lineup will be a newly created role, ‘Chief Product Officer,’ which Myer is currently recruiting for. That appointee is set to take on responsibility for Myer Exclusive Brands as well as private brands like Sass and Bide, Marcs, and David Lawrence.

Executive chair Olivia Wirth said these developments would help steer Myer in a strong new direction. “These leadership changes materially enhance our capability to drive the next phase of growth for the expanded Myer Group,” she said.

More market news

Together: The U.S. has suspended aid to Ukraine. Will Europe step into the breach?

Meet GeoGeorge: The HotCopper poster so accurate he got hired as an analyst

“The new appointments bring world-class expertise in multi-brands and departmentstore environments and a track record of financial, retail and supply chain success to the Myer Group.

“The reshaped team is aligned to our strategic vision to create a leading Australian retail platform, building on the strength of our brands with the fresh thinking and expertise of experienced retail, sourcing and supply chain leaders.”

Myer has been trading at 74 cents.

Join the discussion: See what HotCopper users are saying about Myer Group and be part of the conversations that move the markets.

The material provided in this article is for information only and should not be treated as investment advice. Viewers are encouraged to conduct their own research and consult with a certified financial advisor before making any investment decisions. For full disclaimer information, please click here.

Listen to the HotCopper podcast for in-depth discussions and insights on all the biggest headlines from throughout the week. On Spotify, Apple, and more.

The company’s aggregated headline franchisee sales revenue number was $3.34 billion, while the company-operated sales revenue was $1.49 billion.

Harvey Norman posted an interim dividend per share of 12 cents; up from 10 cents in the prior corresponding period.

Chairman Gerry Harvey said the first half of FY2025 had been a strong one, noting the profit reading in particular occurred during a time of greater pressure on retailers.

“Total assets have surpassed the $8 billion milestone for the first time, reaching $8.25B as at 31 December 2024,” he said. “Prudent and efficient working capital management across key segments has continued to deliver strong operating cash flows of $448.10 million at a cash conversion ratio of 118.8%.”

Harvey Norman has been trading at $5.09.

Join the discussion: See what HotCopper users are saying about Harvey Norman and be part of the conversations that move the markets.

The material provided in this article is for information only and should not be treated as investment advice. Viewers are encouraged to conduct their own research and consult with a certified financial advisor before making any investment decisions. For full disclaimer information, please click here.

The agreements – secured through global tool manufacturer Positec – provide Stealth with exclusive selling rights across all market channels for 5 years in the case of Wesco and Harden Hand Tools, alongside a 3-year term for CAT Power Tools.

This will be done through Stealth’s multiple retail channels, which include company owned stores, reseller stores in trade and retail – including network licensee member stores, B2B sales contact centres and field sales representatives, and online sales channels.

Managing director and CEO Mike Arnold said the agreement marked a ‘game-changing’ milestone for Stealth, particularly within the framework of its FY28 growth plan.

“Securing the exclusive distribution rights for these leading brands highlights our commitment to delivering high-quality products, greater value, and enhanced experiences to our customers, while strengthening our market position and accelerating our FY28 growth ambitions,” he said.

“Annual contract purchasing commitments are set to increase year-on-year as we penetrate markets and channels.

“By the FY28 period, commitments across the three contracts, extrapolated into wholesale-level sales guidance based on projected sell-through, are expected to exceed $30 million, with strong margin contributions above 40%, excluding additional margins from company-owned retail stores.”

The company’s revenue target – according to the FY28 plan – is $300 million.

At 16:40 AEDT, shares in Stealth were trading at 73 cents – a rise of 15.87% since the market opened.

Join the discussion: See what HotCopper users are saying about Stealth and be part of the conversations that move the markets.

Listen to the HotCopper podcast for in-depth discussions and insights on all the biggest headlines from throughout the week. On Spotify, Apple, and more.

That’s up from $53.5 million in the prior comparable period, the company added.

Earnings (or really, EBIT: Earnings before interest and tax) were 10.7% higher, for $90.2 million in HY25, while revenue had risen 8.8% to $405.9M.

During the period, the jewellery retailer opened up 57 new stores, bringing the total to 943 for the end of the half-year period (ending December 29). The openings included Lovisa’s first franchises in the Ivory Coast, the Republic of Congo, and Panama.

Chief executive officer Victor Herrero said the data reflected both the underlying retail strength of the company, but also its growth in stores.

“Lovisa has once again been able to deliver solid sales and profit growth, with the highlight another outstanding Gross Margin performance, and the store rollout accelerating in Q2,” Mr Herrero said.

“I want to again share my appreciation to the global Lovisa team for their hard work to be able to achieve these solid results.”

Lovisa Holdings has been trading at $29.30 today.

Join the discussion: See what HotCopper users are saying about Lovisa Holdings and be part of the conversations that move the markets.

The material provided in this article is for information only and should not be treated as investment advice. Viewers are encouraged to conduct their own research and consult with a certified financial advisor before making any investment decisions. For full disclaimer information, please click here.

On Friday, Domino’s shares shot up by more than 21% after the company announced it would be closing a total of 205 loss-making stores – the majority (172) of these in Japan – per a ‘comprehensive strategy review’ which in terms of that country alone, was expected to yield $15.5 million in estimated annualised savings from store closures and accelerated refranchising.

The group-wide review revolves around two main points: Achieving cost efficiency by simplifying the store network and cost base and strategic growth through a ‘value creation plan’ to push long-term value.

(This immediate regional focus will extend as far as France.)

This move is both a key step for van Dyke – who replaced longstanding chief Don Meiji in November 2024 – as well as a reflection of previous initiatives to boost Domino’s fortunes, including a strategic review launched in June 2023 which had prompted the closure of all 27 stores in Denmark by year’s end.

When Domino’s announced its final year results for the 2024 fiscal year, investors were informed the Danish closures had delivered the $12 million boost to EBIT (earnings before interest and taxes) which had been predicted.

The review launched in 2023 had also intended to “deliver material, near-term, cost savings, improving efficiency” through a reduction in Domino’s corporate store network – in which around 65 to 70 underperforming corporate-owned stores would be closed – plus an accelerated refranchising process.

As part of the latter, experienced franchisees would be brought in to facilitate the franchising of between 70 and 75 corporate stores earmarked as being in “turnaround.”

Taken together, the initiatives rolled out after this review ended up delivering $50.2M worth of savings for the company in FY24, in line with an expected savings range of between $50 million and $60 million.

The FY24 results also show the Australia/New Zealand market was the strongest across Domino’s portfolio, with a record underlying EBIT of $124.1 million (up 10.4% from the previous year).

Europe recorded EBIT growth of 338% (reaching $70.7M), leaving weaknesses in the Asian market, which was down by 28.7% (to $42.9M).

The latter was explained regarding external tensions, including geopolitical tensions surrounding Malaysia.

That said, Domino’s recent attention to Japan mainly sought to address the struggle of stores that had opened during the COVID-19 era – which had brought on a large number of sales – but had not maintained that momentum since the pandemic.

Of the stores to close in this country, 58 are franchised, and 114 are corporate, and are largely in sub-scale prefectures.

Mr van Dyke said these steps showed Domino’s was willing to act quickly to address areas of weakness. He said: “When I started in this role three months ago I said we would move decisively to reshape our business for long-term success.”

“Where change is required, we are acting quickly and transparently. Our priority remains clear—creating value for customers, franchise partners, and shareholders.”

At close, Domino’s traded at $35.82 – a rise of 20.93% since the market opened.

Join the discussion: See what HotCopper users are saying about Domino’s Pizza Enterprises and be part of the conversations that move the markets.

The material provided in this article is for information only and should not be treated as investment advice. Viewers are encouraged to conduct their own research and consult with a certified financial advisor before making any investment decisions. For full disclaimer information, please click here.

Metro, red meat supplier Greenstock, and own-brand business Woolworths Food Company Retail will now become part of Woolworths Retail more broadly.

The latter division will be led by Annette Karantoni, who has previously led Woolworths’ supply chain business Primary Connect, and has 20 years of experience across the company.

Another shift will see Sally Copland return to New Zealand to become managing director of the company’s regional division in that country.

The changes at Woolies have been made in the wake of rising costs and an ACCC investigation into pricing claims also involving Coles (ASX:COL) – with the board saying changes to its Food leadership and structure have been made ‘to allow a greater focus on the areas that have the most impact for customers.’

Woolworths Group CEO Amanda Bardwell said the shifts had been made in consideration of the latter’s needs. “Our Woolworths Retail business is the cornerstone of our group and critical to our success,” she said.

“Getting it right for our customers starts with our team and we are taking the opportunity tosimplify the way we work to create the biggest impact for our customers.

“With Metro, Greenstock and Woolworths Food Company Retail moving into Woolworths Retail under Annette’s leadership, we will be able to enhance the role our retail food stores and own brand play in meeting the needs of our customers.”

Woolworths shares last traded at $30.17 – a rise of 0.43% since the market opened.

Join the discussion: See what HotCopper users are saying about Woolworths Group and be part of the conversations that move the markets.

The material provided in this article is for information only and should not be treated as investment advice. Viewers are encouraged to conduct their own research and consult with a certified financial advisor before making any investment decisions. For full disclaimer information, please click here.

Catch – which offers a range of beauty, tech, sports, fashion and grocery products at budget prices – will be wound down in the fourth quarter of the 2025 fiscal year. Its e-commerce fulfilment centres are to be transferred to Kmart Group, while Wesfarmers retail divisions take on select digital capabilities developed in Catch.

The latter will also include specialist personnel and supplier relationships.

Wesfarmers acknowledged Catch’s financial performance had been challenging, with the business expected to report an operating loss of up to $40 million for the first half of the 2024-25 financial year.

Managing director Rob Scott said the decision was in the best interests of shareholders andwould better leverage the assets and capabilities developed within Catch.

“While Catch’s financial performance has been challenging, we have gained valuable insights and capabilities that have accelerated the Group’s digital transformation and supported the development of the OnePass membership program,” he explained after the news broke on Tuesday morning.

“The recent increase in competitive intensity in the Australian e-commerce sector has affected Catch’s financial performance and growth prospects.

“In this environment, the Group’s retail and health businesses, with their leading omnichannel offerings and trusted brands, are better positioned to respond as the marketand customer expectations evolve.”

Wesfarmers last traded at $72.58 – a rise of 1.17% since the market opened.

Join the discussion: See what HotCopper users are saying about Wesfarmers and be part of the conversations that move the markets.

The material provided in this article is for information only and should not be treated as investment advice. Viewers are encouraged to conduct their own research and consult with a certified financial advisor before making any investment decisions. For full disclaimer information, please click here.

The €553 million transaction comes during a busy period of upgrades at the 85,000 square metre centre – described as ‘one of the strongest and best-performing destinations in Prague’ – where an extension of 9,000 square metres is to be added in 2026, including new retail, dining and leisure facilities.

As a result of the transaction, the involved parties will commence a long-term joint venture, with Upvest and RSJ Investments able to acquire a further 24% stake in the next two years (based on the appraisal value at that time).

The transaction will be completed with an implied offer price of €553M, and the asset – which will continue to be managed by URW – has been financed with a green mortgage loan of up to €268 million; the largest syndicated commercial real estate loan in the Czech market since 2023.

The loan will be partly used to finance the ongoing extension.

URW has been trading at $6.20.

Join the discussion: See what HotCopper users are saying about Unibail-Rodamco-Westfield and be part of the conversations that move the markets.

The material provided in this article is for information only and should not be treated as investment advice. Viewers are encouraged to conduct their own research and consult with a certified financial advisor before making any investment decisions. For full disclaimer information, please click here.

MyAccess, which manufactures and retails cannabis products, provided medical cannabis treatments to help patients dealing with chronic pain, mental health, and sleep conditions.

The sale should help Althea achieve operating cost savings of around $1.5 million, as well as annualised cost savings of $4 million (previously announced in May).

On top of that, the ASX-listed company will now be able to concentrate on expansion of its North American operations, particularly targeting the cannabis beverage sector through Peak Processing Solutions – its recreational cannabis business whose products are marketed to retail stores.

Althea CEO Joshua Fegan said the decision would boost the company’s ability to grow in North America in particular.

“The completion of this sale marks a significant step in AGH’s strategy to streamline our operations and sharpen our focus on high-growth opportunities,” he said.

“By divesting MyAccess Clinics, we are better positioned to accelerate our North American expansion, particularly in the cannabis beverages market through Peak Processing Solutions.”

Althea shares fell on the news, and at 14:14 AEDT, they were trading at 4 cents – a fall of 6.98% since the market opened.

Join the discussion: See what HotCopper users are saying about Althea and be part of the conversations that move the markets.

The material provided in this article is for information only and should not be treated as investment advice. Viewers are encouraged to conduct their own research and consult with a certified financial advisor before making any investment decisions. For full disclaimer information, please click here.

Myer entered a binding Share Sale and Implementation Agreement (SSIA) with Premier Investments Ltd to facilitate the combination of its business with Apparel Brands – an action which follows through on a report in June that the department store giant had made an approach about a potential link-up of the two businesses.

The arrangement involves Myer issuing 890.5 million new, fully paid ordinary shares in Myer to Premier upon completion in consideration for Just Group Ltd (JGL), while Premier will provide $82 million of cash.

The bringing together of these two companies will require a corporate restructure, with JGL to own Apparel Brands – that is, Just Jeans, Jay Jays, Portmans, Dotti, and Jacqui E.

Solomon Lew – the current chairman of Premier – will continue his role, but will also join the board of Myer as a non-executive director after the transaction.

A fully franked dividend of 2.5 cents per share to existing Myer shareholders has also been declared.

The deal means Premier Investments will now focus its attention on its other brands, in particular Peter Alexander and Smiggle.

Myer Executive Chair Olivia Wirth said the combination would be transformational.

“If approved by shareholders, it will create a leading retail group with more than 780 stores across Australia and New Zealand, with a large and highly engaged customer base and capital to fund future investment and growth,” she said.

“Myer and Apparel Brands have highly complementary store footprints and customers who will benefit from an expanded omni-channel ecosystem that enables them to engage with the group’s loved brands when and how they want.

“The combination will create significant opportunities to supercharge our leading Myer One loyalty program through greater reach, enriched data, enhanced cross-shop opportunities and increased personalisation to drive incremental sales growth.

“The combined business will also be well positioned to take advantage of capabilities in product development, design, sourcing and distribution to realise the full potential of Myer’s Exclusive Brands and private label portfolio and deliver improved margins for the Group.”

Myer has been trading at 97 cents, while Premier has been trading at $30.88.

Join the discussion: See what HotCopper users are saying about Myer and Premier be part of the conversations that move the markets.

The material provided in this article is for information only and should not be treated as investment advice. Viewers are encouraged to conduct their own research and consult with a certified financial advisor before making any investment decisions. For full disclaimer information, please click here.

The proceedings are to be heard at the Federal Court, where the ACCC will allege that Coles and Woolworths breached Australian Consumer Law by making discount pricing claims which misled consumers in relation to hundreds of common supermarket products.

Specifically, the regulator is focusing on a range of products which it believes were sold at regular long terms prices, excluding short-term specials, for at least six month and often up to a year, despite the advertised claims.

After this – the ACCC alleges – the same products were increased by at least 15% before being included in Woolworths’ ‘Prices Dropped’ promotion and Coles’ ‘Down Down’ promotion, with prices lower than the previous spike, but with prices that were higher than or equal to the regular long-term price.

ACCC chair Gina Cass-Gottlieb said the marketing campaigns had led Australians to form an inaccurate opinion of the pricing of these products.

“Following many years of marketing campaigns by Woolworths and Coles, Australianconsumers have come to understand that the ‘Prices Dropped’ and ‘Down Down’ promotions relate to a sustained reduction in the regular prices of supermarket products,” she said.

“However, in the case of these products, we allege the new ‘Prices Dropped’ and ‘Down Down’ promotional prices were actually higher than, or the same as, the previous regular price.

“We allege that each of Woolworths and Coles breached the Australian Consumer Law bymaking misleading claims about discounts, when the discounts were, in fact, illusory.”

She added that in many cases, the two companies had already decided to add these products to the campaigns before the price spike, but implemented the latter specifically to establish a higher ‘was’ price.

At 11:46 AEST, Coles shares were trading at $18.60 – a fall of 3.23% since the market opened, and Woolworths was trading at $33.87 – a fall of 3.17%.

Mr Ronan’s experience included playing an important role in Adair’s IPO in 2015, becoming CEO the following year and heading up two acquisitions to diversify the group.

Not to mention the challenges which came with Covid 19 and its impact on the retailing world.

Adairs is engaged in the process of identifying and appointing a successor, a process which will be aided somewhat by Mr Ronan’s decision to stay on into early 2025.

Mr Ronan said he would focus on supporting the company through the transition period.

“Adairs has been a large part of my life for nearly two decades and I feel that the time has come to make a change, consider what the future holds, and pursue new opportunities,” he said.

“This was not an easy decision and I will certainly miss the friendship, support and passion of our team, who have been and always will be critical to the Group’s success.

“Recognising this, my focus is on managing the Company and supporting our team through the transition period ahead.”

Adairs is involved in retailing home furnishings, home furniture and home decoration products with reach across Australia and New Zealand and through three vertically integrated brands, Adairs, Mocka, and Focus on Furniture.

Shares in the company fell slightly on the news. At 12:26 AEST, they were trading at $1.95 – a fall of 1.77% since the market opened.

The company – which has stores in Australia, New Zealand, Singapore, Slovenia, Ireland, Northern Ireland, Malaysia and Croatia – also saw sales revenues drop to $8.86 billion from $9.19 billion in FY23 Harvey Norman, underlining buyer caution.

Inflationary pressures were also noted in its reading for operating expenses, which were up 1.5% to $25.01 million, with new store openings also mentioned as a factor.

However, chairman Harvey Norman appeared enthused about one sector which is likely to gain focus in the coming months: AI-enabled computer products, around which the company had developed a marketing strategy.

“We are excited about the recent Generative Artificial Intelligence (Gen-AI) product cycle and are committed to investing in digital initiatives and the necessary technologicalupgrades to our infrastructure,” he said.

“These investments will assist both our franchisees and company-operated stores in promoting Gen-AI-enabled products to mainstream consumers.

“Our omni-channel strategy, bolstered by our strong brand and extensive geographical reach, will empower franchisees and company-operated stores to leverage the emerging AI PC market, which will drive sales growth as additional AI-PC products come onto the market.”

Harvey Norman kept its final dividend payout at 12 cents per share for FY24.

The company’s shares fell on the financial results, and by 11:31 AEST, were trading at $4.66: a drop of 4.81% since the market opened.

Wesfarmers – which owns Bunnings, Kmart, Officeworks, among other segments – said its statutory net profit had grown 3.7 per cent in the 2024 fiscal year to a figure of $2.56 billion compared to the same time last year.

Its revenue had also seen a slight increase of 1.5% to $44.19 billion in FY24 – largely on-target with expectations – and its dividend was raised to $1.98 fully franked, on the basis of this growth.

In terms of the separate sectors, Bunnings’ revenues had grown in FY24 by 2.3% to $18.97 billion, Kmart was up 4.4% to $11.11 billion, Officeworks was also higher by 2.3% for $3.43 billion, Wesfarmers Chemicals Energy and Fertilisers (CEF) had fallen by 16.9% to $2.75 billion, Industrial and Safety was up 1.5% to $2.02 billion, Wesfarmers Health had risen 5.9% to $5.62 billion, and Catch revenues had fallen 35.9% to $227 million.

Meanwhile, Southern Cross Media – which owns more than 99 radio stations under the brands Triple M and Hit, and broadcasts 96 free to air TV signals across regional Australia – said its revenue had dropped 1% to $499.4 million for the year, down 1% on FY23, while underlying EBITDA had also fallen by 14% to $66.2 million.

Underlying NPAT for the media group had also taken a hit – being 49% down at $11.2 million (from $21.9 million in FY23).

In addition to this, Southern Cross had cancelled its final dividend for the year, and said it was in active negotiations for the sale of its ‘non-core’ television assets.

Finally, Qantas said its statutory profit after tax had fallen 28.3% in FY24 to $1.25 billion (from $1.74 billion in FY23), despite a rise of 10.7% in revenue and other income to $21.94 billion during the same period.

Qantas did not declare or paid any dividends during the fiscal year 2024, although it said statutory earns per share were at 75.9 cents on June 30 2024, down from 96 cents the previous year.

The airliner also said profits were likely to be weak in the future, based on softening demand for travel following previous peaks.

Qantas shares fell 1.74% on the news (to $6.21) at 11:14 AEST. At the same time, Wesfarmers shares were down 3.13% (to $74.78), while Southern Cross Media shares traded higher by 1.89% (to 54 cents).

Mining titan BHP emphasised a better-than-expected underlying profit figure of US$13.7 billion for the 2024 fiscal year, representing an increase of 2% from FY23, while underlying EBITDA rose 4% to US$29 billion.

Higher prices in both iron ore and copper accounted for a 3% rise (or US$1.8 billion) in revenue to US$55.7 billion, with sales volumes increasing 3% for the red metal and 5% for iron ore.

However, more sobering was the company’s general reading for net profit after tax, which showed a fall by 39% to US$7.9 billion.

Additionally, BHP chair Ken MacKenzie warned that geopolitical headwinds would continue to impact the global economy and create volatility in the 2025 fiscal year.

BHP’s final dividend came in at US 74 cents a share, or a 53 per cent payout ratio.

Over in retail sector, supermarket behemoth Coles said its profit after tax had increased 8.3% to $1.13 billion in FY24, from $1.04 billion the previous year.

Earnings before interest and tax were also trending upwards, at $2.04 billion from $1.97 billion, representing an increase of 3.4%.

Coles’ final dividend was 32 cents, for a total dividend of 68 cents, this being a change from 30 cents and 66 cents respectively in FY23.

The company’s supermarket sales revenue grew by 6.2% to $39.0 billion compared to the 2023 fiscal year, and this was underpinned by customer responses to Coles’ initiatives such as the ‘Great Value, Hands Down’ seasonal value campaigns, continuity and collectibles programs and trade events such as Christmas, Easter and Mother’s Day, as well as strong growth in eCommerce and improvements in availability.

Meanwhile, in the energy sector, Woodside said its net profit after tax had risen 11% in the first half of FY24 to US$1.94 billion, from US$1.74 billion in the prior comparable period.

However, earnings (EBIT) also came in weaker, with a 15% fall to US$2.36 billion (from US$2.79 in the first half of FY23).

Woodside’s interim dividend was 69 US cents, compared to 80 cents in the first half of 2023.

The company said its production volumes were 4% lower when it came to gas, but 2% higher when it came to liquids.

The market responded positively to all three sets of results on Tuesday. At 13:28 AEST, Woodside shares had risen 4.76% to $27.64, BHP shares were up 1.93% at $41.63, and Coles shares were up 2.28% at $18.88.

Poultry producer Inghams Group Ltd (ASX:ING) has seen its share price plunge by 19.77% (to$3.11) as it warned that core growth in poultry volumes for the following financial year (FY2025) would be 1% to 3% lower, due to phased introduction of the company’s new supply agreement with Woolworths, plus continuing cost-of-living pressures.

In terms of data for the 2024 fiscal year, Inghams said net profit (NPAT) had risen 68% to $101.5 million, while earnings (EBITDA) were up 12.6% to $471.1 million.

Dividends (fully franked) were declared at 20 cents per share, with this representing 37.9% on the prior comparable period, for a payout ratio of 73.1%.

Accent Group Ltd (ASX:AX1) – which owns Athletes Foot, Hype, UGG and Platypus Shoes – also saw a share price fall, by 14.7% (to $2.07), as it told investors that profits (NPAT) had dropped to $59.5 million in FY24, from $88.7 million the previous year.

Earnings had also fallen, with CEO Daniel Agostinelli citing a ‘more challenging consumer environment’.

Accent’s earnings before interest and tax (EBIT) was $110.4 million during the 2024 fiscal year, down from $138.8 million in FY23, although the company said this was in-line with guidance provided in July which had predicted an EBIT range of $109 million to $111 million.

The company’s (fully franked) final dividend was 4.5 cents per share, bringing dividends for the FY24 year to 13.0 cents per share (down from 17.5 cents per share in FY23).

However, there was some positive news for Mayne Pharma Group Ltd (ASX:MYX), whose shares were up 13.96% (to $4.49) on news that reported revenue for FY24 had risen 112% from the prior period to $388.4m.

All segments of the business showed rising revenues, with Women’s Health up 131% to $142.8 million, Dermatology up 207% to $174.9 million, and the International sector rising 9% to $70.7 million.

Mayne’s underlying earnings (EBITDA) had also grown by $118.2 million compared to FY23, for a FY24 figure of $22.9 million, and predicted that this would continue to trend upwards.

Through a settlement on August 19, Vicinity paid $420 million to acquire a half interest in the property, which is also owned by the Australian Prime Property Fund – Retail, whose investment is managed by Lendlease.

CEO and Managing Director Peter Huddle stressed that Vicinity had been long interested in buying up an interest in the site.

“Lakeside Joondalup is a fortress-style retail asset located in one of Perth’s principal activity centres and has been on our target list for some time,” he said.

“Geographically, the suburb of Joondalup has been earmarked to become Perth’s second Central Business District and enjoys a captive and growing population, which is expected to drive above average retail sales growth over the next decade.

“The acquisition of Joondalup, together with the forthcoming redevelopment of Galleria and sale of four non-strategic assets in Western Australia, reflects our deliberate strategy to recycle and redeploy capital in order to right-size our investment and strengthen our asset portfolio in Western Australia.”

Mr Huddle also said Lakeside was an important investment in terms of its retail sales volumes.

“Importantly, Vicinity has also secured the property and retail development management rights for Joondalup, which provides the opportunity to utilise our retail management platform to drive asset performance, whilst earning additional fee income,” he said.

“With Lakeside Joondalup already achieving annual retail sales of almost $800 million, and with Vicinity’s scalable retailer partnerships, we are confident there is growth and value to be unlocked.”

Vicinity shares have lifted slightly on the news. At 12:38 AEST, they were trading at $2.19, a rise of 0.23% since the market opened.

Mr Laing was noted as having 25 years’ experience in physical, online and wholesale retail with executive roles across a variety of Australian businesses, including Country Road and David Jones, having also been CEO of Colette by Colette Hayman and General Pants Co.

At the latter company, he led a turnaround of its retail fortunes, leading to the sale of General Pants Co to omni-channel retail business Alquemie Group which owns and operates brands such as Lego Certified Stores, Surfstitch, and Ginger & Smart.

Following the acquisition, Mr Laing became Group CEO of Alquemie.

Adore Beauty chair Marina Go said his appointment would be a boost to the company’s growth potential.

“Sacha’s extensive retail and omni-channel experience aligns with our strategic initiatives and will be invaluable in driving Adore Beauty’s future growth,” she said.

“He is an accomplished retail leader and brand manager, with significant experience across e-commerce, retail operations, private label development, product management, loyalty, as well as marketing and communications strategy.

“Sacha’s appointment further strengthens our leadership team, and ensures we are well-positioned to grow revenue and market share.”

Adore Beauty has been trading at 93 cents.

And several ASX-listed businesses have been gaining ground in these fields, growing their profits through technology innovations which help stores to manage and facilitate sales, while others carve out unique spaces within the e-commerce market.

When it comes to the first innovation, Israel-based company, Shekel Brainweigh Ltd (ASX:SBW) – which listed on the ASX six years ago – is keen to develop its technology and client base further.

Shekel’s main business is the development of weighing technology – with AI at its heart – which allows retailers to track what products retailers are picking up, with this technology best representing by the company’s ‘smart (shopping) carts’.

Being able to market to end-users like Walmart, CVS, Dollar General, and The Home Depot in the United States – as well as LIDL in Europe – is an achievement in itself, but Country Manager for Australia Danny Nadri said that several aspects of the smart cart technology had also pushed Shekel Brainweigh to the front of the pack when it came to simplifying the retail experience.

“Shekel is at the forefront of the future direction of retail, and is participating in the solutions for retail automation,” he said.

“Our weighing and analytics features act as an enabling technology, which allows cart providers to offer smart carts.

“Another important aspect is our ability to offer a ‘legal for trade’ feature, which means offering a weighing capability within the cart which actually performs both tasks of weighing products for the purpose of charging as well as security scale.”

Taken together, means that retailers can protect themselves against the risk of shoplifting, and avoid having to hire staff specifically to undertake stocktaking work.

Moving ahead with innovations in the retail space meant that Shekel Brainweigh was also thinking about what customers wanted when they walked into a store, or other purchasing settings, Mr Nadri added.

“Shekel positions itself as a holistic solutions provider for retail automation,” he said.

“Basically we want to understand how people shop for products in all locations – including supermarkets, fuel stations, convenience stores, vending machines, universities, and hospitals – and offer a suite of solutions for these venues to fit customers’ needs.

“The solutions can be a smart cooler (or fridge), smart bays, smart carts, or self-checkout, so we look at the future of automated retail and offer a suite of products.”

These ideas have already found their way into Shekel Brainweigh’s portfolio of products, which include the ‘Hubz’ smart cooler and ‘Innovendi’ vending machine.

With other companies, retail innovation has been evident in their use of specific e-commerce channels to market a diverse range of wares, yielding strong sales results. And in this regard, Queensland-based wellness company The Calmer Co International Ltd (ASX:CCO) has been having a strong run.

The company – which markets a range of products to support greater relaxation, calmed nerves and easier sleep – recently told the market that e-commerce sales for June had exceeded $18,500 per day, indicative of more than 500 percent growth in sales volumes throughout the 2024 Financial Year.

In the same announcement, The Calmer Co noted the success of its strategy to replicate its strong Australian sales record on the US market, with its Shopify channel in the USA recording a twofold increase in sales in the same month.

The Calmer Co’s main range revolves around drinking powders, teas, shots, concentrates and capsules sold under brand names such as Fiji Kava, Taki Mai and Danodan Hempworks – with China, New Zealand and Fiji also being prime markets for these.

However, the business continues to innovate, with plans to introduce new products such as fruit flavours and Fiji Rugby co-branded coconut kava product lines.

CEO Anthony Noble said these introductions would put The Calmer Co in a strong position to build on the ‘aforementioned sales performance.

“We remain focused on growth and the company is preparing to launch exciting newproducts in the coming months that will further drive revenue growth and enhance thelifetime value of our more than 30,000 customers,” he said.