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Vicinity Centres acquires stake in Lakeside Jundaloop, doubles profit

Inside Retail

Vicinity Centres has acquired a 50 per cent stake in the Lakeside Jundaloop shopping centre in Western Australia from Future Fund for $420 million, and will co-own it with Lendlease-managed Australian Prime Property Fund – Retail. Vicinity’s net profit grows 101.5 million in the last fiscal year, up 101.5

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Coles CEO Leah Weckert talks profit margins, seasonal products in FY24 results

Inside Retail

Thanks to its strong supermarket sales Coles has reported a $1.1 billion after-tax profit for FY24. Coles’ extensive national footprint, across 856 supermarkets, 992 liquor stores and numerous digital platforms, has positioned it as one of Australia’s biggest omnichannel retailers for essential household items.

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

Inside Retail

In Australia, the growing importance of loyalty programs could be seen in the half-year results of both Coles and Woolworths , the country’s leading supermarkets, which reported that the e-commerce, digital and loyalty aspects of the business were responsible for strong growth. billion in 2024. The Coles App had a 42.3

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Coles’ challenges for the year ahead: reining in costs and retail crime

Inside Retail

Despite consumers’ changing spending habits, Coles delivered a positive result on Tuesday, with sales at the Australia supermarket chain slightly up year on year. And while net profit was slightly down from FY22, this still resulted in more than $1 billion being added to the business. Is inflation embedded?

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Retail appointments of the week

Inside Retail

BWX CEO departs amid flagging results By Dean Blake Global beauty and personal care business BWX’s group chief executive and managing director Rory Gration is departing the role after only 12 months, having served through a period which the business called “highly challenging and disruptive”.

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Woolworths declares $2bn share buyback as profit hits $2.07bn

Inside Retail

Woolworths has announced a $2 billion share buyback following the demerger of its drinks business Endeavour Group and a strong year at the supermarket checkouts. per cent lift in net profit to $2.07 Physical supermarket sales increased by 2.0 Online penetration for supermarkets is quite interesting – 8.5

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How Coles’ half-year results underscore Cain’s legacy

Inside Retail

Coles’ sales were reasonably good , [and it] had very positive results in EBIT and net profit,” Mortimer told Inside Retail. “If Shoppers are looking for price consistency.”