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Best & Less reports ‘inconsistent’ trading, revises profit expectations

Inside Retail

BLG executive chair Jason Murray said consumer confidence has been at “historic lows” yet the business is “optimistic” for sales growth. “We Sales improved in the lead-up to Mother’s Day and have been consistent since, while BLG’s non-discretionary product lines are continuing to perform well.

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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 Department store Myer has enjoyed the fruits of a rebounding retail environment in FY21, with total sales up 5.5 per cent to $2.65

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Nick Scali logs full year double-digit growth in revenue, profit

Inside Retail

per cent growth in net profit after tax for the year ended June 30 – a success it attributes to smart logistics management. million, while net profit after tax reached $101.1 Trading during the year has been variable and challenging as consumer sentiment deteriorated in line with interest rate increases.”

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Vinted profit triples, driven by second-hand boom and Europe-wide growth

Retail Gazette

Second-hand marketplace Vinted has a reported sharp rise in revenue and profits for 2024, fuelled by growing consumer appetite for affordable pre-owned goods and ongoing expansion across Europe. The Lithuanian-based business posted a net profit of 76.7m, up from 17.8m the previous year, as sales climbed 36% to 813.4m.

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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 We] had many challenges to navigate including government mandated store closures, supply chain issues and significant delays experienced with global shipping providers,” said managing director Anthony Scali.

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How Temple & Webster plans to use AI, private labels to reach $1b in sales

Inside Retail

Meanwhile, its net profit fell by over 30 per cent to $8.3 Caring about every dollar Mark Coulter, Temple & Webster co-founder and CEO, attributes the business’ strong start to the year to a change in consumer sentiment, as well as an enhanced focus on value – which is resonating with its customer base in a retail recession.

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Woolworths flags concerns across supply chain, customer experience

Inside Retail

Despite group net profit hitting $1.5 According to Woolworths Group chief executive Brad Banducci, the business was hit on all sides by supply chain disruptions, product shortages, team absenteeism, and flood damages, while also witnessing a shift in consumer behaviour driven by rising prices. per cent, New Zealand food up 6.6