Consumers starting to tighten their belts
The snowballing momentum of interest rate rises, high inflation constricting household budgets and eroding Covid-19 savings has finally forced consumers to rein in spending.
The snowballing momentum of interest rate rises, high inflation constricting household budgets and eroding Covid-19 savings has finally forced consumers to rein in spending.
Woolworths boss Brad Banducci is broadening the supermarket’s push into the fast-growing pet sector and has tipped more money into an online pet insurance and products joint venture.
The tariffs placed by an angry Beijing on Australian wine in 2020 snuffed out a $1.3bn export market, but there are now new hopes of a resolution that could open China again to winemakers.
The world’s largest packaging company has pushed through billions of dollars in price hikes to its customers to combat soaring inflation, which helped it grow sales and profit.
Households are only halfway through the interest rate pain triggered by RBA rate hikes, as the cost of servicing a home loan is set to hit a 15-year-high, warns Jarden.
Despite a 70 per cent jump in interim profit and record revenue, Nick Scali shares drop amid outlook concerns and a lower than expected dividend.
Wesfarmers paid $230m for online marketplace Catch Group in 2019, but the loss-making retailer is struggling to lift sales and has now made mass redundancies.
The $2.75bn car accessories maker, warns of a 30 per cent drop in interim profit, but cost pressures on its business have begun to moderate.
Coles will hold its first ever suppliers forum just for packaged grocery suppliers, to discuss e-commerce, consumer trends and inflation.
Business confidence took a tumble in the fourth quarter, according to NAB, as concerns about global and domestic economic growth mounted, but a recession is not seen as a certainty.
Original URL: https://www.theaustralian.com.au/author/eli-greenblat/page/67