Yesterday
Three ASX stocks to ride out the retail rebound
As retail sales data tops market expectations, Morningstar says some beaten-up retailer stocks may be ripe for a recovery.
- Joshua Peach
Guzman y Gomez worth $62 if US dream succeeds: Morgans
The broker initiated coverage with a $30.80 price target, but says the Mexican fast-food chain could be valued at $62 with a successful push into the United States.
- Carrie LaFrenz
Biden’s debate confession; Retail sales rise; Crucial super trick
Read everything that’s happened in the news so far today.
This Month
Anacacia taps into the golf craze with MGI investment
Street Talk understands Anacacia’s Private Equity IV fund is seeking to acquire 80 per cent of family-run golf motorised buggy retailer MGI Golf.
- Sarah Thompson, Kanika Sood and Emma Rapaport
Rising cheese prices bite into Domino’s earnings: Barrenjoey
Barrenjoey has slashed its earnings forecasts for Domino’s due to a slower store rollout, weak Japanese yen and rising cheese prices.
- Carrie LaFrenz
Baby Bunting plots expansion on the back of HMC’s property portfolio
The retailer fell on tough times but its new CEO is expanding the network into fresh areas with smaller formats and exclusive products.
- Carrie LaFrenz
Solomon Lew’s surprise role model? Vegas mogul Sheldon Adelson
Like the colourful businessman, the billionaire rag trader won’t stop building his empire. And Myer, with a new chief, is finally playing ball.
- Updated
- Jemima Whyte
- Opinion
- Mergers & acquisitions
Adore Beauty acquisition is a great deal … for the other company
Adore Beauty’s $25m purchase of Aussie brand Ikou doesn’t come cheap, and poses questions about whether it has overpaid, and used up too much of its cash.
- Adir Shiffman
June
Adore Beauty snaps up Blue Mountains wellness brand Ikou for $25m
The online beauty retailer said the deal would support its “private label and physical store initiatives” as it attempts to increase its profit margins.
- Carrie LaFrenz
Retailers have bigger worries than possible interest rate rise
Nick Scali and Harvey Norman say they are getting squeezed from all directions. A rate rise would add to their woes but other costs are doing more damage.
- Carrie LaFrenz and James Eyers
Cettire CFO facing multimillion tax bill on ‘worthless’ share options
Tim Hume is one of the biggest casualties of a slump in the luxury retail platform’s share price. He faces a large tax bill, while his options are out of the money.
- Carrie LaFrenz and Jonathan Shapiro
Premier, Myer alliance could yield savings of $55m a year
The merger could land the department store chain a $1 billion-plus valuation, brokers say.
- Carrie LaFrenz
Profits finally run over by the interest rates truck
Somehow, corporate profits and margins beat expectations at the February reporting season. A spate of downgrades this week shows cost pressures and softening demand is finally biting.
- Anthony Macdonald
Brokers turn on Cettire after profit downgrade
The company’s shares fell again on Tuesday as analysts doubted whether a soft luxury market was the only cause of its dramatic downgrade.
- Jonathan Shapiro and Carrie LaFrenz
Why this CEO doesn’t like flying business class
For Who Gives a Crap co-founder and CEO Simon Griffiths, sitting at the front of the plane doesn’t resonate with the company’s brand.
- Lap Phan and Ciara Seccombe
Cettire plunges 50pc on profit downgrade as luxury pinch strikes
Cettire blamed a challenging environment in online luxury fashion for a big earnings miss that sent its share price tumbling.
- Updated
- Jonathan Shapiro and Carrie LaFrenz
- Opinion
- Chanticleer
Myer’s new brigade imagines a future with warring Solomon Lew
Myer’s battle with its biggest shareholder hasn’t been good for anyone, so credit to the new brigade for bringing it to a head.
- Updated
- Anthony Macdonald
Myer outlines massive expansion plan with Just Jeans, Jay Jays buy
The department store has proposed acquiring several brands owned by Solomon Lew’s Premier Investments, its largest shareholder, in a bid to trigger growth.
- Kylar Loussikian
Metcash’s better than expected food results soothes hardware pain
Households are cutting back on restaurant visits and hunting for food on special at the group’s IGA stores, but Total Tools is being hit by the housing construction slide.
- Simon Evans
Rich Lister’s ‘billion dollar’ company faces $79m loss
Shaun Bonett bought into Prezzee in 2015 and has slowly increased his control over the business. New figures reveal it lost $79 million in the 18 months to December 31.
- Primrose Riordan