Endeavour Group, the operator of Dan Murphy’s and BWS liquor shops, has warned that steep discounts are failing to generate solid sales growth and higher costs will drag on profits in the six months to the end of the year.
The company’s outgoing chief executive, Steve Donohue, told investors that after a good start to the new financial year, sales had slowed. He said it would be “challenging” to record sales growth in the key second quarter of the year – which covers the crucial holiday trading period – in its 1725 stores.
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Carrie LaFrenz is a senior journalist covering retail/consumer goods. She previously covered healthcare/biotech. Carrie has won multiple awards for her journalism including financial journalist of the year from The National Press Club. Connect with Carrie on Twitter. Email Carrie at carrie.lafrenz@afr.com
