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Myer’s net profit tumbles as labour, marketing costs increase

Inside Retail

Myer’s net profit declined 18 per cent to $42 million in the first half, reflecting what the company described as an increase in the cost of doing business. “In a year of transition, we remain focused on executing our strategic plans to drive growth and attractive shareholder returns.”

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Nick Scali’s net profit plunges amid Fabb Furniture acquisition

Inside Retail

Furniture retailer Nick Scali’s net profit plunged 20.3 million, which Nick Scali said reflects the previous year benefiting from increased deliveries with lead times returning to pre-Covid levels. The post Nick Scali’s net profit plunges amid Fabb Furniture acquisition appeared first on Inside Retail Australia.

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Kathmandu parent KMD Brands sees sales, net profit increase

Inside Retail

Outdoor apparel retailer KMD Brands has witnessed an increase in sales and net profit in FY23 on the back of improved performance across all its businesses – with the Rip Curl and Oboz brands achieving record sales. million and net profit after tax jumping 8.6 Gross profit increased 13 per cent to $599.7

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Kogan reports first-half growth fuelled by strong holiday sales

Inside Retail

Kogan has returned to strong top-line growth in the fiscal first half, which was fuelled by solid holiday sales. On the bottom line, gross profit rose 18.3 In the last fiscal year, Kogan swung to a net profit of $83,000 despite a 6.1 The company reported gross sales of $492.5 million during the July-December period, a 10.3

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Myer’s profit declines amid store closures, underperformance of some brands

Inside Retail

Myer saw a decline in net profit in the last fiscal year due to the underperformance of Sass&Bide, Marcs, and David Lawrence, inflationary pressures, and store closures. The department store chain’s net profit fell 26 per cent to $52.6 million as sales dipped 2.9 per cent to $3.27 per cent of total sales.

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Myer sees elevated annual sales, but is cautious amid economic headwinds

Inside Retail

. “Our multi-channel offer is a key strength of these results as we capitalised on customers returning to stores after closures in the prior year, underpinned by our leading customer loyalty proposition in Myer One,” said John King, CEO. ” Net profit rose 18.2 ” Net profit rose 18.2

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Moshi Moshi eyes expansion beyond Thailand, targets 200 stores by 2025

Inside Retail

Cutting across each of these segments are Chinese tourists, whose return in bigger numbers to Thailand is giving Moshi Moshi some extra lift. The market for Moshi Moshis products and price points in neighbouring countries would seem to be substantial and the company has not been at all reluctant to open shops at a rapid pace.