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12 Accounting Mistakes New Business Owners Often Make

Small Biz Trends

A new business won’t survive long if it doesn’t have solid cash flow and a good accounting system in place. To that end, a panel of Young Entrepreneur Council (YEC) members answered the following question: “What’s one accounting mistake that new business owners might tend to make, and why? How can they fix it?”

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Online boom drives Myer sales boost

Inside Retail

Based on unaudited accounts, sales for the year will range between $2.85 Online sales accounted for 24 per cent of total sales and are expected to range between $715 million and $725 million highlighting strong growth momentum in the half. per cent higher than at the same time last year. billion and $2.995 billion.

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Health Brand Jocko Fuel’s Amazon Success Formula: ‘Fight AI with AI’

Retail TouchPoints

“The one advantage we have over big brands is speed,” said Masciantonio, a 23-year CPG veteran who spent time at Johnson & Johnson, General Mills and Nature’s Bounty before joining Jocko Fuel. My decision-making at Jocko Fuel is three text messages. By all accounts it’s working. The Proof is in the Prime Day Results.

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David Jones reaches profitability for the first time in years

Inside Retail

Department store David Jones has clawed its way back into the black, according to a report in The Australian , after posting its first net profit since 2018. Accounts lodged with ASIC by David Jones’ holding firm Osiris Holdings tell of a healthy net profit of $83.4 million for the same period a year prior.

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How scrutiny over prices could impact Coles’ and Woolworths’ loyalty programs

Inside Retail

million in total and during FY23 almost 75 per cent of all purchases made at Myer were linked to a Myer One account. million having purchased products at the members-only price. per cent increase in net profit in the half, to $594 million, including an e-commerce revenue growth of 29.2

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Swipe fee costs average household more than $1,100

Mass Relators

billion in swipe fees for Visa and Mastercard credit cards alone, which account for more than 80 percent of the market. By contrast, net profit for general retail averages only 3 percent. The settlement gives Visa and Mastercard the ability to increase their own fees as much as they want at any time,” Jeon said.

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Covid dulls first-half earnings for Harvey Norman

Inside Retail

Total system sales were estimated at $4.91 billion with EBIT at $754.41 Net profit after tax reached $430.91 The profits of the Australian franchising operations segment were estimated at $292.85 The company said overseas sales, which now account for 27 per cent of company turnover, have grown by 46.2