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Pandemic brought grocers higher sales and net profits

Retail Wire

percent increase in same-store sales in 2020 but also found cost increases tied to the pandemic. 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

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Myer sales surge in a buoyant post-Covid era

Inside Retail

per cent over the first half of the 2020 financial year and by 14.3 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. per cent over the first half of 2019. per cent year on year.

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Vicinity Centres posts highest occupancy rate since 2019

Inside Retail

per cent as of June 30 last year and 98 per cent at the peak of the pandemic (December 2020). Statutory net profit after tax rose to $223.5 Vicinity Centres reported an occupancy rate of 99.1 per cent during the fiscal first half ended December 31, its highest point since 2019. million from $176.3 million in the year-ago period.

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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.

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Analysis: a perfect retail storm is brewing

Inside Retail

per cent in June 2020. Despite some retailers reporting strong sales because of the growth in online sales, net profits declined. per cent in the 2022 fiscal year supported by record online sales, which increased by 44 per cent while net profit fell by 20 per cent. per cent decline in net profit after tax.

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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 per cent to $3.5 million (compared to $26.8 million the year prior). Without taking these impacts into consideration, adjusted NPAT rose 43.2 per cent to $42.9 per cent to approximately $1.18

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How Mosaic Brands’ rapid expansion led to its devastating collapse

Inside Retail

million and net earnings to a modest $3.3 million and net profits to $17.3 Then came the downward spiral, and the company was seriously exposed, with store performance problems and unresolved integration issues, as the Covid pandemic gouged sales and earnings across the 2020, 2023 and 2024 financial years.

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