Breville’s shares slide on profit miss
The retailer has enjoyed a rebound in coffee machine sales and food prep appliances, but a miss on profit expectations and a more pessimistic outlook than analysts hoped has seen its shares slump 13 per cent.
The retailer has enjoyed a rebound in coffee machine sales and food prep appliances, but a miss on profit expectations and a more pessimistic outlook than analysts hoped has seen its shares slump 13 per cent.
The head of retail giant JB Hi-Fi has called the new right to disconnect ‘crazy’ as employers backed the Coalition also winding back new casual conversion and intractable bargaining laws.
Food and grocery suppliers are growing increasingly nervous about price cut requests from supermarkets, saying labour and energy costs are still high.
Consumers are increasingly coming into JB Hi-Fi stores and haggling for a better deal, in a sign the cost of living crisis has emboldened shoppers to push back on higher prices.
Coles has asked some suppliers to cut prices to reflect cooling inflation, with those savings likely to fund a discounting blitz.
Retailers that cater to affluent households and those chains that benefit from under-strain consumers trading down should be among the winners this reporting season.
Shoppers are still happy to spend thousands of dollars on Jimmy Choo shoes or Gucci sandals to send sales for online luxury fashion retailer Cettire soaring.
Woolworths and Coles declare that competition in food and grocery remains as strong as ever, as part of efforts to dismiss allegations of price gouging or profiteering.
Woolworths and Coles have been accused of predatory pricing and price gouging by some farming groups, but defended by others, submissions to a Senate inquiry show.
The retailer warned of slowing profits, but shares spiked 18 per cent as its performance wasn’t as bad as some investors feared.
Original URL: https://www.theaustralian.com.au/author/eli-greenblat/page/25