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Nick Scali’s net profit plunges in fiscal first half

Inside Retail

Nick Scali’s net profit dipped in the fiscal first half ended December 31 amid a sharp decline in Australia and New Zealand performance and softer-than-expected loss in the UK. The furniture retailer’s net profit plunged 30.2 per cent to $30 million, with ANZ net profit tumbling 20.7 million. .”

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SHEIN Opens Dublin HQ, Plans 30 Pop-Up Events Across Increasingly Important EMEA Markets

Retail TouchPoints

SHEIN generated $23 billion in revenue and net profits of $800 million in 2022, people close to the company told WSJ. This included discussing the growth of SHEIN’s workforce in Dublin to fill roles in data analytics, security engineering, finance management and legal, as well as expanding SHEIN’s graduate program in Ireland.

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What’s driving the transformation of China’s department stores?

Inside Retail

Market struggles Chinas department-store sector has long been a foundational part of the countrys commercial infrastructure, but in recent years, it has been under mounting pressure. Slower revenue growth, shrinking profit margins, and a dwindling share in the national retail economy have pushed many operators to re-evaluate their strategies.

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Latitude Group rescinds buyout offer for Humm’s BNPL business

Inside Retail

Humm Group cited current disruptions in financial markets for the termination of the offer, in a statement to the bourse. BNPL firms have seen their market value shrink rapidly as interest rate hikes to tame rising inflation fuelled concerns about a slowdown in consumer finance. Shares of Humm Group fell as much as 11.3

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How HomePro aims to grow in Thailand’s fragmented DIY market 

Inside Retail

Thailand’s HomePro is strengthening its market leadership in the country’s DIY/home improvement industry in the first half of 2023. According to Statista Market Insights, the DIY and Hardware market was worth US$14.21 According to Statista Market Insights, the DIY and Hardware market was worth US$14.21

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Eighteen months post-merger, Lotus’s growth is stagnating. Here’s why

Inside Retail

Eighteen months on, the excitement around the merger is beginning to dissipate, as Lotus’s toils in a fiercely competitive market with a cash-strapped core customer. Net profit was up by 8.9 Retail’s weak revenue growth showed up on the bottom line, with net profit from retail stores falling 12.8

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Why Thailand’s rainy season is a double-edged sword for its DIY chains

Inside Retail

The growth was partly assisted by the opening of eight net new stores since mid-2022, and five more are planned for the second half of this year. Net profit for the first half was up 6.6 Net profit was 1.6 per cent, year-on-year, to 3.2 billion baht. Revenue from this source was 940.6 million baht, up 15.3