Owner of Radio Rentals, Thorn Group, has announced it will be strategically moving its investment elsewhere after deciding to exit its online retail venture BigBoxBrown.com.au, as a result of “difficult trading conditions”.
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Sold: 50% of Westfield Stratford City
The share, which is worth approximately $490 million in profit, has been sold to a new joint venture comprising APG of The Netherlands and CPPIB.
Woolworths “way ahead of schedule”
The recent decision by the Victorian Government has helped fast track its hardware store plans.
Bourke Street store underpins DJs’ sales
The department store has reported total and like-for-like sales revenue of $466.6 million, which is up 3.2 per cent from $452.1 million for the same period last year.
High rates see Myer down
Myer has reported sales for the period ending 30 October is down 1.53 per cent to $706 million compared to the previous corresponding period, in which Myer delivered a record result with sales growth of 5.21 per cent.
Coles boosts Wesfarmers’ profits
At the annual meeting, Richard Goyder, Wesfarmers managing director, said the positive result is underlined by Coles food and liquor comparable store sales growth of 6.2 per cent.
Domino’s strong start to the year
The pizza chain saw a 7.83 per cent growth which has been achieved with same store sales growth of 9.35 per cent in Australia and New Zealand and 4.21 per cent in Europe.
Billabong struggles with strong dollar
Billabong has predicated that earnings will be reasonably flat in 2010-11 as the company experiences pressure from the strong Australian dollar.
Myer reaffirms profits
Myer has reaffirmed its anticipation for its net profit to grow between 5 to 10 per cent in the 2011 financial year.