November 2020
Toys R Us stores to reopen after Hobby Warehouse's Funtastic merger
Hobby Warehouse CEO Louis Mittoni sees scope to open physical stores and lift sales sixfold by 2030 if Funtastic shareholders approve a reverse takeover.
- Sue Mitchell
October 2020
Bernie Brookes' Funtastic poised for acquisition
The troubled toy wholesaler, which is headed by the former Myer chief, is on the verge of merging with toy retailer Hobby Warehouse.
- Sue Mitchell
ASX rallies in best fourth quarter start in five years
The sharemarket enjoyed its strongest fourth quarter start since 2015 on hopes for US stimulus and as rising iron ore prices lifted big miners. Reliance soared 10.5 per cent as US sales bounced. Lynas rallied 4 per cent on US plans to invest in critical minerals.
- Robert Guy, Vesna Poljak, Sarah Turner, William McInnes, Luke Housego and Tom Richardson
July 2019
'I've done my due diligence' - Bernie Brookes to chair Funtastic
Former Myer chief Bernie Brookes is confident Funtastic, which is now worth about $10 million compared with $500 million at its peak, can be turned around.
- Sue Mitchell
March 2018
Woolworths and Wesfarmers to benefit from Toys 'R' Us demise
Department store chains Kmart, BIG W and Target and specialty toy retailers are likely to be the biggest beneficiaries of the collapse of Toys 'R' Us.
- Updated
- Sue Mitchell
January 2018
How the Rich Invest: Gerry Harvey
Billionaire Gerry Harvey's shares in Lithium Power shares are up about 70 per cent in the past 12 months, but not all his holdings have performed so well.
- Updated
- John Stensholt
October 2017
Funtastic says the worst is over
Toy wholesaler Funtastic has told long-suffering shareholders including Gerry Harvey the worst is over.
- Updated
- Sue Mitchell
August 2017
How the Rich Invest: Gerry Harvey's retail investments go beyond Harvey Norman
Gerry Harvey is the second biggest shareholder in Rod Duke's Briscoe Group.
- Updated
- John Stensholt
March 2017
Gerry Harvey besieged on Harvey Norman, Quintis, Funtastic
Gerry Harvey hates short sellers like he loves whitegoods.
- Updated
- Joe Aston
Big banks lead ASX fightback as investors take stock of mortgage rate rises
The ASX recovered throughout the day to almost entirely recover the early trade losses.
- Updated
- Myriam Robin
August 2016
Funtastic under cloud as losses mount
Toy wholesaler Funtastic is being queried by the stock exchange amid fears it may breach banking covenants following another profit warning.
- Updated
- Sue Mitchell
January 2015
Madman woes for Funtastic
Funtastic, the struggling plaything of retailer Gerry Harvey and media mogul Lachlan Murdoch, has seen its shares tank after losses of $36 million last year.
- Sarah Thompson, Anthony Macdonald and Jake Mitchell
August 2014
Chenoweth closes Madman acquisition from Funtastic
Former APN News & Media chief executive Brett Chenoweth has closed the acquisition for part of retailer Gerry Harveyand media mogul Lachlan Murdoch’s plaything Funtastic.
- Updated
- Sarah Thompson, Anthony Macdonald and Gretchen Friemann
July 2014
Fundies’ faith at stake as reporting season looms
The bull market has been going for more than two years, but when the profit reporting season kicks off this week, fund managers need to be convinced that earnings can back up valuations.
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- Philip Baker
June 2014
JB Hi-Fi keeps profit guidance despite cutting sales forecast
Consumer electronics retailer JB Hi-Fi has reaffirmed its full-year earnings guidance of between $126 million and $129 million net profit, despite slower than expected sales growth of 5.3 per cent.
- Updated
- Sue Mitchell
More retailers tipped for downgrades
Chanticleer | Earnings downgrades from Pacific Brands, The Reject Shop and plastics group Nuplex on Tuesday will add to negative sentiment swirling around consumer-facing stocks.
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- Michael Smith
Funtastic CEO to step down after profit downgrade
Funtastic has slashed its full-year earnings guidance by as much as 48 per cent and announced a management shake-up, with chief executive Stewart Downs to hand the reins to the head of the wholesaler’s international operations, Nir Pizmony, in August.
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- Sue Mitchell
May 2014
Funtastic shares in trading halt
Shares in toy distributor Funtastic have been halted from trade as the company prepares to issue an update to investors. It expects to receive US sales figures for Chill Factor slushy machine soon.
- Updated
March 2014
- Opinion
- Opinion
Ex-APN boss Chenoweth backs Madman buyout
Former APN News & Media CEO Brett Chenoweth is set to emerge from his 12-month hiatus, joining a management buyout consortium which may include Tim Anderson, Paul Wiegard and Charbel Nader.
- Updated
- Sarah Thompson, Anthony Macdonald and Gretchen Friemann
Funtastic forecasts profit drop as bidders eye Madman
Funtastic has said increased costs of business, a weaker Australian dollar and poor performance in key brands will lead to a significantly lower profit in the first half.
- Updated
- Eli Greenblat | Max Mason