RETAIL TRADE – AUSTRALIA

Harvey unfazed by ‘first strike’

roymorgansocial Leave a comment

Original article by Eli Greenblat
The Australian – Page: 23 : 26-Nov-14

The remuneration report of retailing group Harvey Norman at its 25 November 2014 AGM was rejected by 282.5 million stockholder votes and approved by just 90 million. The resulting "first strike" under Australian executive pay laws has been labelled irrelevant by chair Gerry Harvey, who also owns 30% of the business and cannot vote that bloc. The salary increase of over 40% for CEO Katie Page had triggered a recommendation for a "no" vote by proxy advisory firm Ownership Matters. Meanwhile Harvey Norman will source $A120.7m in fresh capital from existing investors at $A2.50 a share

CORPORATES
HARVEY NORMAN HOLDINGS LIMITED – ASX HVN, OWNERSHIP MATTERS PTY LTD

Vacuum cleaner doyen has Alan Bond moment

roymorgansocial Leave a comment

Original article by Simon Evans
The Australian Financial Review – Page: 13 & 20 : 26-Nov-14

Vacuum cleaner retailing chain Godfreys is preparing for an IPO, with a listing date of 10 December 2014 and an issue price per share of $A2.75. It aims to raise $A78m, down from an initial target of as high as $A103m for the company with 209 stores. A stake of 8% will be held by CEO Tom Krulis and one of 20.2% by the current owner and original co-founder in 1936, John Johnston. The latter reacquired the business for a rumoured $A100m in 2011, having sold it for $A300m in 2006 to private equity firms Pacific Equity Partners and Unitas Capital

CORPORATES
GODFREYS, PACIFIC EQUITY PARTNERS PTY LTD, UNITAS CAPITAL PARTNERS PTY LTD, NOMURA AUSTRALIA LIMITED, INVESTEC AUSTRALIA LIMITED, ASX LIMITED – ASX ASX, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, CREDIT SUISSE (AUSTRALIA) LIMITED

Wesfarmers off to good start: Goyder

roymorgansocial Leave a comment

Original article by Sue Mitchell, Julie-Anne Sprague
The Australian Financial Review – Page: 13 & 20 : 21-Nov-14

Wesfarmers chairman Bob Every has told the group’s annual meeting that its total shareholder return has significantly outperformed the benchmark S&P/ASX 200 over the last decade. MD Richard Goyder said the conglomerate’s retail operations have generally performed well so far in 2014-15, particularly the Coles and Bunnings businesses. Goyder also downplayed speculation that the cashed-up group could pursue acquisitions. Wesfarmers shares closed $A0.79 lower at $A42.10

CORPORATES
WESFARMERS LIMITED – ASX WES, COLES GROUP LIMITED, WESFARMERS BUNNINGS LIMITED, TARGET AUSTRALIA PTY LTD, KMART AUSTRALIA LIMITED, STANDARD AND POOR’S ASX 200 INDEX, AUSTRALIAN COMPETITION AND CONSUMER COMMISSION, PACIFIC BRANDS LIMITED – ASX PBG, AUSTRALIAN FOOD AND GROCERY COUNCIL, HEALTHSCOPE LIMITED – ASX HSO, JB HI-FI LIMITED – ASX JBH, ORICA LIMITED – ASX ORI, COATES HIRE LIMITED, ELDERS LIMITED – ASX ELD, AMP LIMITED – ASX AMP, THE GOOD GUYS, THE MUIR ELECTRICAL COMPANY PTY LTD, ALDI STORES SUPERMARKETS PTY LTD, COSTCO WHOLESALE AUSTRALIA PTY LTD, TESCO PLC, MORRISONS, ASDA GROUP PLC, PERTH CONVENTION AND EXHIBITION CENTRE

Big retailers warn of chill to competition

roymorgansocial Leave a comment

Original article by Katie Walsh
The Australian Financial Review – Page: 4 : 19-Nov-14

An Australian National Retailers Association (ANRA) submission to the Harper review of competition law has expressed concern about the proposed "effects test". It warns that this would adversely affect competition and would have no long-term benefit for consumers. The ANRA has supported some of the other recommendations of the review, while small retailers say the proposal to deregulate trading hours will ultimately increase the dominance of retail giants Coles and Woolworths

CORPORATES
AUSTRALIAN NATIONAL RETAILERS ASSOCIATION LIMITED, COLES GROUP LIMITED, WESFARMERS LIMITED – ASX WES, WOOLWORTHS LIMITED – ASX WOW, WESFARMERS BUNNINGS LIMITED, HARVEY NORMAN HOLDINGS LIMITED – ASX HVN, INDEPENDENT GROCERS OF AUSTRALIA, AUSTRALIAN CONSUMERS’ ASSOCIATION, AUSTRALIAN TAXI INDUSTRY ASSOCIATION

The Iconic offers last-minute delivery

roymorgansocial Leave a comment

Original article by Sue Mitchell
The Australian Financial Review – Page: 21 : 5-Nov-14

The Iconic has responded to consumer demand by delivering goods to customers on Saturdays. The online clothing retailer also hopes to increase sales by offering same-day delivery on weekdays until Christmas Eve. MD Adam Jacobs notes that the online retail sector is enjoying growth of 14-15 per cent, and he expects this growth to continue. He also expects The Iconic to become profitable much more quickly than most e-commerce businesses

CORPORATES
THEICONIC.COM.AU, INTERNET SERVICES AUSTRALIA 1 PTY LTD, AUSTRALIA POST, STAR TRACK EXPRESS PTY LTD, AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION

Goyder defends Coles’s conduct amid strong sales

roymorgansocial Leave a comment

Original article by Paul Garvey
The Australian – Page: 21 : 31-Oct-14

The total turnover of retailer Coles during the September 2014 quarter grew 4% to reach $A9.2bn. Across the individual units of the Wesfarmers-owned group, sales at Bunnings were up 11%, those at Officeworks 8% and Kmart 2.9%. At the results presentation on 30 October 2014, Wesfarmers CEO Richard Goyder rejected claims by the Australian Competition & Consumer Commission that Coles supermarkets were guilty of "unconscionable conduct" by pressuring grocery suppliers into making financial contributions

CORPORATES
WESFARMERS LIMITED – ASX WES, COLES GROUP LIMITED, WESFARMERS BUNNINGS LIMITED, OFFICEWORKS SUPERSTORES PTY LTD, KMART AUSTRALIA LIMITED, TARGET AUSTRALIA PTY LTD, AUSTRALIAN COMPETITION AND CONSUMER COMMISSION, ZARA, INDITEX SA, TOPSHOP, ARCADIA GROUP PLC, HENNES OCH MAURITZ AB

Treasury’s premium clear out of Penfolds Grange

roymorgansocial Leave a comment

Original article by Julie-Anne Sprague
The Australian Financial Review – Page: 23 & 28 : 30-Oct-14

Treasury Wine Estates MD Mike Clarke refutes claims that the company is providing retailers with discounts on its flagship Penfolds Grange. Some liquor store operators say they have been offered a rebate on the 2009 vintage of up to 30 per cent. Clarke says Treasury has increased its marketing support for retailers after the group opted to release the 2009 and 2010 vintages in the same calendar year

CORPORATES
TREASURY WINE ESTATES LIMITED – ASX TWE, PENFOLDS WINES PTY LTD, WOOLWORTHS LIMITED – ASX WOW, DAN MURPHY’S

Myer shifts focus to ‘find wonderful’

roymorgansocial Leave a comment

Original article by Sue Mitchell
The Australian Financial Review – Page: 18 : 27-Oct-14

Department store chain Myer will use the tagline "find wonderful" in its new marketing campaign, which has been developed by Clemenger BDO Melbourne. TV advertisements using the new slogan were launched on 26 October 2014, while the marketing campaign will also include internet, cinema and in-store advertising. The new marketing campaign is based on research into Myer’s customer base

CORPORATES
MYER HOLDINGS LIMITED – ASX MYR, CLEMENGER BBDO (MELBOURNE) PTY LTD, ALEX PERRY PTY LTD, ELLERY, APPAREL GROUP PTY LTD, UNIT 1 CREATIVE PTY LTD

Coles was ‘entitled’ to payments

roymorgansocial Leave a comment

Original article by Eli Greenblat
The Australian – Page: 17 : 20-Oct-14

Ian McLeod, CEO of the Coles retailing arm of Wesfarmers for six years until mid-2014, has rejected allegations by the Australian Competition & Consumer Commission (ACCC). The watchdog claims that the supermarkets chain in 2010 acted unconscionably, when it demanded suppliers bear the cost of wastage as well as make payments so that Coles could reach its profit goals. McLeod says no unethical practices were engaged in during the group’s relationships with grocery companies. The ACCC court action names five suppliers as having been affected

CORPORATES
WESFARMERS LIMITED – ASX WES, COLES GROUP LIMITED, AUSTRALIAN COMPETITION AND CONSUMER COMMISSION, DEUTSCHE BANK AG

Guardian Pharmacy guards top spot in customer satisfaction

roymorgansocial Leave a comment

Original article by Roy Morgan Research
Market Research Update – Page: Online : 16-Oct-14

A Roy Morgan Single Source survey has found that Guardian Pharmacy had a customer satisfaction rating of 91 per cent in the year to August 2014. Rival chemist chains Priceline Pharmacy and Chemist Warehouse both had customer satisfaction ratings of 90 per cent, ahead of Amcal and Chemmart. Guardian was also the winner of its category in the 2013 Roy Morgan Customer Satisfaction Awards

CORPORATES
ROY MORGAN RESEARCH LIMITED, GUARDIAN PHARMACY, PRICELINE PHARMACY, CHEMIST WAREHOUSE, AMCAL CHEMISTS, AMCAL MAX, CHEM MART PTY LTD