article thumbnail

Wimbledon and summer of sport: Net profit

Talking Retail

This story continues at Wimbledon and summer of sport: Net profit. The nation’s eagerly awaited summer of sport is almost here – and retailers must be ready to maximise sales as shoppers stock up to enjoy the action in the months ahead.

article thumbnail

Pandemic brought grocers higher sales and net profits

Retail Wire

Net profit grew to an average of three percent, up from one percent in 2019. FMI’s “The Food Retailing Industry Speaks 2021” report found that the average grocery retailer posted a 15.8

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Double-digit fall in Hallenstein Glasson’s full-year profit

Inside Retail

NZX-listed fashion retailer Hallenstein Glasson has reported a 23 per cent drop in net profit for the year ended August 1 to AUD39,83 million despite sales growth in the second half. per cent growth in sales with net profit increasing 16.4 per cent with net profit down 64.7

article thumbnail

Myer sales surge in a buoyant post-Covid era

Inside Retail

The results, which reflect our best sales on record for the first five months, are particularly pleasing and more importantly also reflect improved profitability within the business,” said Myer CEO John King. “As

article thumbnail

Solid Christmas trading failed to offset slow summer start for Best & Less

Inside Retail

Poor consumer demand and falling foot traffic dented Best & Less Group’s first-half profits. However, tax-paid profit for the half fell 31.8 In a trading update of unaudited figures for the 26 weeks to January 1, the company said its sales improved 13 per cent to $324.8

article thumbnail

Zara owner raised prices and achieved sales and profit gains

Retail Wire

The company posted a 24 percent gain in net profit. Inditex, the parent company of Zara, raised prices five percent or more across some lines and saw its sales increase 19 percent year-over-year. in-article

article thumbnail

Myer posts strong performance in half year results

Inside Retail

Department store Myer has recorded a strong performance in its half-year results, with net profit after tax hitting $32.3 million – an increase of 55 per cent. . Myer’s total group sales were up at 8.5 per cent to $1.51 billion, with comparable sales growth of 17.8 per cent.

article thumbnail

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

article thumbnail

Analysis: a perfect retail storm is brewing

Inside Retail

However, online channels usually have lower profitability margins compared with traditional brick and mortar stores. Despite some retailers reporting strong sales because of the growth in online sales, net profits declined. per cent decline in net profit after tax.

article thumbnail

Premiumization will help Heineken to weather inflationary pressures, says GlobalData

Retail Times

However, the net profit declared excludes the exceptional cost of €400m related to its decision to halt and transfer ownership of its business in Russia.

article thumbnail

Nick Scali’s sales steady, profit stumbles through first half

Inside Retail

million and profit fell slightly to $35.6 Overall profit fell by 6 per cent compared to the previous corresponding period in FY21. million, which added 46 showrooms to the group’s network , contributed a net profit after tax of $1.8

article thumbnail

Nick Scali forecasts bumper year ahead as third quarter delivers

Inside Retail

Due to this ongoing positive momentum, Nick Scali is forecasting its full-year EBITDA to hit $120 million and resulting net profit to fall in the range of $78 to $80 million – a 90 per cent increase on the year prior.

article thumbnail

Booming e-commerce bolsters Woolworths top line in ‘challenging’ year

Inside Retail

per cent year on year, and a net profit attributable to shareholders of $1.514 billion, up $10 million on year. Woolworths Group boosted its sales by 9.2 per cent to $60.85 billion last financial year, with e-commerce revenues up 39 per cent to $6.26 billion. .

article thumbnail

Myer bounces back to profitability, names new chair

Inside Retail

billion – 20 per cent of which were made online – leading to a statutory net profit figure of $46.4 Myer’s profit is a strong improvement on the $172.4 The post Myer bounces back to profitability, names new chair appeared first on Inside Retail.

article thumbnail

Temple & Webster booms as customers remain homebound

Inside Retail

Temple & Webster has surfed strong online homewares sales to a year of record profit, revenue, and customer growth, with Australians continuing to rethink and refurnish their homes amid ongoing lockdown restrictions.

article thumbnail

Adore Beauty rights ship in FY21 with revenue, customer and profit growth

Inside Retail

Net profit grew 168 per cent over the course of the year, with the beauty firm eking out a positive result of $845,000 – a slight win, but a big boost on last year’s loss of $1.2

Shipping 207
article thumbnail

JB Hi-Fi predicts record year, though lockdown hurts fourth quarter

Inside Retail

per cent to $743 million and net profit reached $506 million – a 67.4 Electronics retailer JB Hi-Fi will deliver record sales and earnings growth for FY21, according to preliminary results released to shareholders on Tuesday. According to the business, sales grew 12.6

article thumbnail

Hallenstein Glasson profits hit by Covid

Inside Retail

Trans-Tasman fashion retailer Hallenstein Glasson has reported a 40-per-cent reduction in half-year profit, citing Covid disruptions. million, with net profit at $11.91 The post Hallenstein Glasson profits hit by Covid appeared first on Inside Retail.

article thumbnail

The Reject Shop’s sales remain sluggish into second half

Inside Retail

After a blockbuster first half that saw net profit soar 46.5 per cent despite sluggish sale s, The Reject Shop has said trading remained challenging through the beginning of the second half.

Shopping 207
article thumbnail

Best & Less reports robust trading

Inside Retail

million and net profit after tax of $16.9 Best & Less Group has reported ‘robust’ trading performance during the past half-year despite losing 21.3 per cent of trading days due to government-mandated store closures. The group has reported first-half revenue of $287.5

article thumbnail

Newly-listed Best & Less delivers record profit

Inside Retail

Best & Less’ first financial year as a public company exceeded its own expectations, with strong earnings and like-for-like sales growth driving a net profit result 191 per cent up on the prior year. million, leading net profit to hit $47 million for the year.

article thumbnail

Beacon Lighting expecting profit to almost double in FY21

Inside Retail

Beacon Lighting expects its net full year earnings to hit between $35.5 The impressive growth in net profit largely comes from careful expense management and boosted gross profit margin, driven by an increase in retail and online sales.

article thumbnail

KMD Brands profit dives through first half

Inside Retail

The business’ net profit after tax fell 124.7 The post KMD Brands profit dives through first half appeared first on Inside Retail.

article thumbnail

Baby Bunting marks record sales, begins New Zealand foray

Inside Retail

million (with same-store sales up by 5 per cent) while statutory net profit attributable to shareholders rose 14.6 “We continued to grow our market share at the same time as we delivered very strong gross profit growth.

article thumbnail

Miniso continues to post strong growth as Covid’s impact eases

Inside Retail

Chinese discount goods retailer Miniso has reported strong first-quarter sales and profit growth for the three months to September 30 as its store network continues to expand internationally. million and adjusted net profit to $28.6

article thumbnail

Nick Scali confirms it’s looking to buy Plush Sofas

Inside Retail

Nick Scali said it had almost doubled profit during the six months to February, with net profit hitting $40.5 Following a successful first half , furniture business Nick Scali has offered Greenlit Brands an undisclosed sum to buy up its Plush Sofas business.

article thumbnail

Kathmandu cuts expectations short as lockdowns bite

Inside Retail

The business has had a rough run during the pandemic, with its net profit tumbling 44.5

Outdoor 186
article thumbnail

Inditex joins growing exodus of western brands from China

Inside Retail

While Inditex recorded growth across most of its geographic markets with revenue and net profit increasing 36 per cent and 80 per cent, respectively, in China – where 67 stores were affected by Covid-19 restrictions – the Spanish retailer experienced the reverse fortune.

article thumbnail

Latitude Group rescinds buyout offer for Humm’s BNPL business

Inside Retail

Humm Group said on Thursday its consumer unit, Humm Consumer Finance, saw a 61 per cent on-year plunge in year-to-date cash net profit after tax at the end of May due to intense competition, rising interest rates, and weakening consumer sentiment.

article thumbnail

Kathmandu Group rebounds in FY22 despite lockdown, supply chain impacts

Inside Retail

The group ended the year with a underlying net profit of $64 million – more than double what was achieved during FY20. After a difficult start to the year, outdoor group Kathmandu ended FY21 with relatively strong sales growth of 15.1

article thumbnail

Online sales drive profits for Premier Investments

Inside Retail

Premier investments’ online channels have contributed significantly to group’s half-year profit despite volatile trading conditions in its first-half results. Net profit after tax was registered at $163.6

article thumbnail

Kogan profit falls 86 per cent on bloated inventory costs

Inside Retail

Kogan’s bloated inventory and logistics costs severely impacted its profitability in FY21, with net profit plummeting 86.8 The post Kogan profit falls 86 per cent on bloated inventory costs appeared first on Inside Retail.

article thumbnail

Super Retail Group delivers record sales, eyes expansion

Inside Retail

billion although tax-paid net profit fell 20 per cent to $244.1 Super Retail Group has reported a “record” year of sales in its full-year results marked by a strong second-half performance – but its bottom line did not fare as well.

article thumbnail

Kathmandu Group rebounds in FY22 despite lockdown, supply chain impacts

Inside Retail

The group ended the year with a underlying net profit of $64 million – more than double what was achieved during FY20. After a difficult start to the year, outdoor group Kathmandu ended FY21 with relatively strong sales growth of 15.1

article thumbnail

Adairs’ growth remains stable in the first half

Inside Retail

million while net profits after tax came to $17.6 Bedding and homewares retailer Adairs reported that the business continued to perform well despite Covid-related disruptions in its first half results. . Group sales were estimated at $241.8 million with Adairs contributing $131.7

article thumbnail

Wesfarmers warns of more Covid disruption after first-half profit dives

Inside Retail

Retail conglomerate Wesfarmers has reported a 12.7-per-cent decline in first-half net profit, estimated at $1.213 billion with revenue of $17.758 billion. . The post Wesfarmers warns of more Covid disruption after first-half profit dives appeared first on Inside Retail.

article thumbnail

Baby Bunting records higher profits, plans expansion into New Zealand

Inside Retail

Net profit after tax was $8.1 The post Baby Bunting records higher profits, plans expansion into New Zealand appeared first on Inside Retail. Retailer Baby Bunting Group has reported strong revenue growth in the first half on the back of market-share gains.

article thumbnail

Coles pockets $1 billion profit as Smarter Selling pays off

Inside Retail

At its full year results announcement on Wednesday morning, Coles revealed that net profit broke the one-billion-dollar mark, rising 2.8 Coles overall produced reasonably strong results, attaining just over $1 billion in net profit for the first time,” Mortimer told Inside Retail. “Of

article thumbnail

Hallenstein Glassons grows through FY21, but limps into FY22

Inside Retail

Fashion house Hallenstein Glassons has delivered a year of growth in a difficult market, with group sales almost 22 per cent up to $333 million and net profit hitting $31.7

article thumbnail

Mosaic Brands looks at raising capital following return to profitability

Inside Retail

Mosaic Brands has returned to earnings growth despite faltering sales, clocking in a net profit figure of $2.7 The benefits of these actions became evident in the fourth quarter, which delivered our second most profitable Q4 on record with comparable sales growth of 27.9

Returns 130
article thumbnail

Myer sets AGM date, puts Lew in the hot seat

Inside Retail

Myer’s half year results, however, did see the business recover slightly – with a net profit after tax of $42.9

article thumbnail

Lovisa recovers from rough start to deliver strong FY21

Inside Retail

While the business’ first quarter was heavily impacted by store closures in Victoria, the remainder of the year saw improved performance and positive comparable store sales, with a gross margin of 77 per cent delivering a net profit of $27.7

article thumbnail

New board member and DJs update: Here are the key takeaways from Myer’s AGM

Inside Retail

million, while its net profit rose by over 100 per cent compared to the last financial year, excluding JobKeeper support, to $60.2 Former Myer managing director Terry McCartney has joined the department store’s board as a non-executive director.