WESFARMERS LIMITED

Orica bets $800m on WA ammonium nitrate plant

21 May 2012 | Luke Forrestal

PRINT: 22 May 2012 | PAGE 24 | Orica bets $800m on Pilbara

Orica and its foreign partners are confident that West Australian iron ore miners will continue to expand aggressively, justifying a decision to invest $US800 million in a new ammonium nitrate plant in the Pilbara.

Inner-city IGA stores to go upmarket

18 May 2012 | Sue Mitchell

PRINT: 18 May 2012 | PAGE 19 | IGA stores to go upmarket

Move over Thomas Dux. Metcash plans to give Woolworths’ gourmet grocery format a run for its money by transforming inner-city IGA supermarkets into upmarket food stores stocking up to 25,000 products.

National briefs

18 May 2012 |

PRINT: 18 May 2012 | PAGE 3 |

The competition watchdog has warned that the major supermarkets and petrol retailers are in its sights as it lobbies for increased powers to combat any misuse of their market clout.

Billabong founder’s green punt coming up red

17 May 2012 | Sue Mitchell

PRINT: 17 May 2012 | PAGE 25 | Green punt coming up red

It’s not easy being green, as Billabong founder and environmentalist Gordon Merchant found after he outlaid $10 million in 2010 to gain control of Plantic Technologies, which makes plastic packaging from corn.

Woolies recruit stocks up on ideas

16 May 2012 | Sue Mitchell

PRINT: 16 May 2012 | PAGE 4 | Woolies recruit stocks up on ideas

After a 20-year career with one the world’s largest food companies, former Kellogg’s global chief executive David Mackay is bringing unique insights to the board of grocery retailer Woolworths.

Loyalty wars on the cards

15 May 2012 | Julie-anne Sprague

PRINT: 15 May 2012 | PAGE 2 | Loyalty wars on the cards

Woolworths has returned fire in the fresh war being waged by the supermarket giants: consumer loyalty.

PEP peruse the sweet freezer

15 May 2012 | Sarah Thompson and Anthony Macdonald

PRINT: 15 May 2012 | PAGE 18 | PEP peruses the sweet freezer

The sales process for Nestlé’s iconic Peters icecream business is quietly moving along, with selected suitors being courted away from the public eye.

Swan fast on rhetoric but slow to act

11 May 2012 | John Kehoe

PRINT: 11 May 2012 | PAGE 16 | Swan big on rhetoric, slow on action

Four years ago, Treasurer Wayne Swan rose to his feet in Parliament and boasted the Rudd government would boost the financial services sector.

Retailers pray for a spending revival

10 May 2012 | Sue Mitchell

PRINT: 10 May 2012 | PAGE 3 | Praying for a spending revival

Retailers are crossing their fingers that consumers will spend rather than save the bulk of the $4.5 billion in cash handouts, benefits and savings flowing from the federal budget.

Launa don’t surf but she will run Billabong

09 May 2012 | Carrie LaFrenz

PRINT: 10 May 2012 | PAGE 1 | Launa don’t surf but she runs Billabong

Former Target managing director Launa Inman has been appointed managing director and chief executive of troubled surfwear retailer Billabong International following the shock departure of Derek O’Neill.

Wesfarmers (WES)

09 May 2012 |

PRINT: 09 May 2012 | PAGE 27 |

Deutsche Bank has maintained its “hold” rating on Wesfarmers, with a price target of $28, after taking a closer look at the company’s revamped Flybuys programme, which is aimed at attracting and retaining more customers to the Coles brand.The broker expects continued benefits to stem from a turnaround in Coles but it believes any upside from this is already factored into the company’s share price.

Ballot brings Bowen Basin blues

09 May 2012 | Matthew Stevens

PRINT: 09 May 2012 | PAGE 1 | Ballot brings Bowen Basin blues

The seeds of a new Bowen barney have been sown with unions readying a protected action ballot of workers at Wesfarmers’ Curragh mine.

Coles pays high price for my5 scheme

09 May 2012 | Sue Mitchell

PRINT: 09 May 2012 | PAGE 2 | Coles pays a high price for my5 scheme

Food and liquor retailer Coles may have to lift sales by around 2 per cent a year to offset the increased cost of its revamped FlyBuys customer loyalty program.

Truckies to pay heavy duty for road use

09 May 2012 | Louise Dodson

Companies using heavy vehicles on public roads for business will be hit with a sharp increase in charges to reap almost $700 million for the budget bottom line.

Wesfarmers (WES)

08 May 2012 | Bianca Hartge-Hazelman

Deutsche Bank has maintained its “hold” rating on Wesfarmers, with a price target of $28, after taking a closer look at the company’s revamped Flybuys programme.

Aussies pay too much: Kmart boss

08 May 2012 | Sue Mitchell

PRINT: 08 May 2012 | PAGE 1 | Australians pay too much: Kmart boss

Kmart managing director Guy Russo says Australian consumers are paying excessive prices because many retailers have flawed and outdated business models.

Labor leadership talk helps cloud subdued outlook

05 May 2012 | Jenny Wiggins

PRINT: 05 May 2012 | PAGE 2 | Subdued outlook hangs over Labor turmoil

The future of Julia Gillard was top of chief executives’ minds as well as the darkening financial outlook at Macquarie’s annual conference in Sydney this week.

Woolies freshens up top team

03 May 2012 | Sue Mitchell

PRINT: 03 May 2012 | PAGE 2 | Woolies freshens up top team

Woolworths has promoted promising internal talent to senior roles and the grocer is working on a marketing campaign and changes to its fresh and packaged lines.

Business leaders cheer RBA’s big move

01 May 2012 | Andrew White

PRINT: 02 May 2012 | PAGE 8 | Business leaders hail confidence booster

Business leaders welcomed the Reserve Bank’s outsized rate cut as a bold move with the potential to quickly restore confidence across the struggling housing, retailing and manufacturing industries and urged banks to quickly pass on the savings to consumers.

High dollar forces big RBA rate cut

01 May 2012 | Jacob Greber

PRINT: 02 May 2012 | PAGE 1 | High dollar forces RBA into big interest rate cut

The Reserve Bank of Australia has challenged the nation’s banks to slash mortgage rates, with the biggest cut in official interest rates since the height of the global financial crisis.

A spotless paint job

01 May 2012 | michael smith

DuluxGroup chief executive Patrick Houlihan must have been keeping a close eye recently on PEP’s takeover bid for Spotless Group.

Big supermarkets on the nose

30 April 2012 | Paul McIntyre

PRINT: 30 April 2012 | PAGE 45 | Big supermarkets on the nose

Australians’ satisfaction with life has come to a grinding halt and it’s spilling over to their spending intentions, fears about personal finances and a dramatic rise in frustration with supermarket chains, says study.

Wesfarmers boss backs hefty rate cut

29 April 2012 |

A hefty half a percentage point interest rate cut by the Reserve Bank of Australia (RBA) this week would give a much-needed boost to the nation's consumers, says Wesfarmers chief executive Richard Goyder.

Coles fined for worker’s fall

27 April 2012 |

Supermarket giant Coles has been fined $170,000 and ordered to pay legal costs after a worker fell through a ceiling at a store in Sydney five years ago.

Spain downgrade knocks Aussie dollar

27 April 2012 | Brendon Lau

Before the Bell | A downgrade of Spain’s sovereign debt by Standard & Poor’s sent the $A and US index futures lower on Friday morning ■ S&P 500 up 0.7pc ■ SPI up 18pts ■ S&P 500 futures down 0.4pc.

Some stocks leveraged to low inflation settings

27 April 2012 | Brendon Lau

PRINT: 27 April 2012 | PAGE 5 | Some stocks leveraged to low inflation settings

Australia’s low-inflation environment is throwing equity investors a fillip during these uncertain times with the two-speed domestic economy and global headwinds buffeting the market.

Baker slices costs after earnings slump

27 April 2012 | Sue Mitchell

PRINT: 27 April 2012 | PAGE 3 | Baker slices costs after earnings slump

Associated British Foods is slashing costs at Australia’s largest baker and smallgoods maker, George Weston Foods, following a 95 per cent slump in earnings in the first half of 2012.

Loyalty has rewards for Coles

27 April 2012 | Sue Mitchell

PRINT: 27 April 2012 | PAGE 1 | Loyalty has rewards for Coles and its customers

Since Coles revamped its FlyBuys scheme, customers have been registering online at the rate of up to 20,000 an hour. If this rate continues, Coles is likely to sign up more than one million members within the first week.

Wesfarmers has plans to fatten the golden goose

27 April 2012 | Sarah Thompson and Anthony Macdonald

PRINT: 27 April 2012 | PAGE 1 | Wesfarmers has plans to fatten the golden goose

The dream deal that every banker would like to pull off is the sale of Coles out of Wesfarmers.

Shopping centres in the money

26 April 2012 | Zoë Fielding

PRINT: 26 April 2012 | PAGE 2 | Shopping centres in the money

Investment in shopping centres increased in the first quarter of this year, when the largest number of shopping centre redevelopments was begun since the end of 2007, a report has found.

Woolworths Campsie up for sale

26 April 2012 | Ben Wilmot

PRINT: 26 April 2012 | PAGE 1 | Woolworths centre on block

A strong-performing Woolworths supermarket in Sydney’s south-western suburbs has been listed for sale for the first time in 24 years.

Wesfarmers (WES)

26 April 2012 | Sue Mitchell

PRINT: 26 April 2012 | PAGE 39 |

Wesfarmers managed to convince investors that the turnaround at Coles is on track, even though the food and liquor retailer reported its slowest rate of sales growth for three years.

Ice-cream could pay for Nestlé baby formula deal

26 April 2012 | Sarah Thompson and Anthony Macdonald

PRINT: 26 April 2012 | PAGE 1 | Ice-cream could pay for baby food deal

Reports that Nestle is preparing to sell its iconic Peters ice-cream business through JPMorgan are making more sense in light of the Swiss food giant’s $US11.9 billion acquisition of Pfizer’s infant nutrition unit.

Wesfarmers says it won’t pay mining tax

24 April 2012 | Julie-anne Sprague

Wesfarmers chief executive Richard Goyder said the Perth-based conglomerate would avoid paying the government’s mining tax unless coal prices at least doubled.

Wesfarmers posts mixed results

24 April 2012 | Sarah Thompson and Anthony Macdonald

PRINT: 24 April 2012 | PAGE 1 |

Analysts are preparing to downgrade their forecasts for Wesfarmers’ resources division after further delays in the Curragh coal mine expansion and softer than expected prices, but Wesfarmers’ March quarter retail sales have earned the thumbs up.

No end to this food fight

24 April 2012 | michael smith

Declines in fresh food prices take their toll at both Coles and Woolworths but there’s too much at stake for them to back away from a fight to expand market share.

Wesfarmers coal prep plant delayed

24 April 2012 | Ayesha de Kretser

Wesfarmers said a new coal preparation plant that was expected to be commissioned by the second quarter of calendar 2012 has been delayed.

Pressure on Woolies to catch up

24 April 2012 | Sue Mitchell

PRINT: 26 April 2012 | PAGE 1 | Pressure on Woolies to catch up

Updated | Supermarket chain Coles has outperformed Woolworths for the 11th consecutive quarter, lifting same-store food and liquor sales by 2.7 per cent in the three months ending in March.

No answers, four years after disaster

24 April 2012 | Geoff Winestock

PRINT: 24 April 2012 | PAGE 4 | Four years on, answers awaited

Four years since the explosion of the Varanus Island gas plant operated by Apache Corp off WA, there has still been almost no report released on what went wrong.

WA explosion documents under wraps

24 April 2012 | Geoff Winestock

PRINT: 24 April 2012 | PAGE 2 | WA explosion

US oil company Apache Corp has taken legal action against the federal government to stop it releasing documents about the Varanus Island gas explosion to The Australian Financial Review.

Insecure employment stifles growth

23 April 2012 | Brian Howe

PRINT: 23 April 2012 | PAGE 55 | Insecure employment stifles economy

Business is blind to the perils of casualisation, while growth lies in developing skills.

Woolworths and Coles defend grocery pricing

21 April 2012 | Sue Mitchell

PRINT: 21 April 2012 | PAGE 3 | Woolies, Coles not raising but ‘adjusting’ prices

Woolworths and Coles point to record levels of food price deflation as proof that they are reducing, rather than raising, grocery prices.

Woolworths executive pledges profit growth

20 April 2012 | Sue Mitchell

PRINT: 20 April 2012 | PAGE 21 | Woolworths executive pledges profit growth

Woolworths new head of supermarkets, Tjeerd Jegen, says Australia’s largest retailer does not need to sacrifice profits to improve its competitiveness.

Electricity review needs more power

20 April 2012 | Mark Ludlow

PRINT: 20 April 2012 | PAGE 13 | Electricity review needs more power

The Australian Energy Market Commission has, in its review of national electricity rules, underestimated the impact of rising power prices.

More bells and whistles for Coles FlyBuys

20 April 2012 | Sue Mitchell

PRINT: 20 April 2012 | PAGE 2 | More bells and whistles for Coles FlyBuys

Supermarket chain Coles will give customers 10 per cent off their five favourite grocery purchases as well as one point for every $1 they spend under a long-awaited overhaul of the FlyBuys customer loyalty scheme.

Coles’ revamped FlyBuys scheme takes off

19 April 2012 | Sue Mitchell

Supermarket chain Coles will give customers 10 per cent off their five favourite grocery purchases every week and one point for every $1 spent under an overhaul of the FlyBuys customer loyalty scheme.

GPG eyes Green’s Food sale

18 April 2012 | SARAH THOMPSON AND ANTHONY MACDONALD

Ron Brierley’s Guinness Peat Group and listed investment vehicle CVC Limited are exploring the sale of Green’s Foods, the owner of grocery brands including Poppin microwave popcorn and Lowan oats.

Food giants lift prices of non-staples to catch up

18 April 2012 | Sue Mitchell

PRINT: 18 April 2012 | PAGE 1 | Food giants lift prices of non-staples to catch up

Coles and Woolworths, set to report their weakest quarterly sales for several years, are raising prices on less visible grocery items to offset the impact of deflation in fresh produce.

More reasons to like Aldi on the way

18 April 2012 | Sue Mitchell

PRINT: 18 April 2012 | PAGE 1 | More in store for Aldi fans

Discount retailer Aldi is tweaking its model to appeal to a broader customer base – stocking a larger range of national brands and increasing the availability of “special buys” on products such as electronics and apparel.

Wesfarmers (WES)

17 April 2012 | Sue Mitchell

PRINT: 17 April 2012 | PAGE 33 |

Shares in Wesfarmers have underperformed the market ahead of the company’s March quarter retail sales figures to be released next week.

Wesfarmers (WES)

17 April 2012 | Brendon Lau

Citigroup has lowered its price target on Wesfarmers from $29.80 to $29.60 a share after lowering its coal price outlook, and has kept its “neutral” rating on the stock.

Fast profits flow from short selling

17 April 2012 | Jane Searle

PRINT: 17 April 2012 | PAGE 28 | Fast profits flow from short selling

Poor housing credit growth and expensive stock valuations are themes driving the most shorted companies – those in the mining and banking sectors – by dollar value on the market this month.

KKR peace pledge: no hostile bids

PRINT: Capital | 17 April 2012

The head of Kohlberg Kravis Roberts in Australia, Justin Reizes, says the private equity giant would never contemplate a hostile takeover bid for a company even if it meant missing out on deals.

Slowdown set to nail DIY market

12 April 2012 | Sue Mitchell

PRINT: 12 April 2012 | PAGE 26 | Slowdown set to nail DIY market

Analysts believe the drop in housing construction activity that contributed to this week’s profit downgrade at building products manufacturer GWA is finally catching up with the DIY market.

Spotlight falls on supermarket sur-prices

11 April 2012 | Sue Mitchell

PRINT: 12 April 2012 | PAGE 26 | Spotlight on supermarket sur-prices

A new grocery inflation index shows that prices rose at Woolworths in the past seven weeks but continued to fall at rivals Coles and IGA.

Metcash planting seeds for a fresh start

05 April 2012 | Sue Mitchell

PRINT: 05 April 2012 | PAGE 17 | Planting seeds for a fresh start

Grocery wholesaler Metcash is planning a new retail format aimed at expanding its presence in fresh food as heightened competition increases pressure on its dry grocery customers.

Corner stores feel the squeeze

04 April 2012 | Sue Mitchell

PRINT: 04 April 2012 | PAGE 18 | Metcash faces 45pc slide

Australia’s largest grocery wholesaler has warned that the days of “mom and pop” convenience stores are numbered as consumers search for discounted groceries at major supermarket chains.

Transurban opts for outsider

04 April 2012 | Michael Smith

PRINT: 04 April 2012 | PAGE 56 | Transurban opts for outsider

Despite having a strong internal candidate for CEO, Transurban has gone outside the company and snaffled Scott Charlton from Lend Lease.

Right royal snag

31 March 2012 |

PRINT: 31 March 2012 | PAGE 56 | Right royal snag

The Prince loves games. His favourite is the one with the shells where, if you shuffle things quickly enough, you are able to fleece, ahem, entertain the punters.

Bunnings expansion ‘just the beginning’

31 March 2012 | Zoë Fielding

PRINT: 31 March 2012 | PAGE 17 | Bunnings 200 and counting

Wesfarmers-owned Bunnings will spend $1.5 billion over the next three years expanding its store network, creating more than 6000 jobs directly and 11,500 jobs during the construction phase.

Bunnings spends $1.5bn to ward off Masters

30 March 2012 |

Updated | Bunnings will spend $1.5 billion on opening new stores and creating thousands of jobs as faces increased competition from new rival Masters.

Metcash in trading halt

30 March 2012 | Carrie LaFrenz

PRINT: 31 March 2012 | PAGE 16 | Metcash halts trading

Australia’s largest grocery wholesaler, Metcash, has been placed in a trading halt ahead of a board meeting that could result in the company being hit with impairment charges.

Orica’s WA plans not viable, says rival Incitec

29 March 2012 | Luke Forrestal

PRINT: 29 March 2012 | PAGE 26 | Orica’s WA plans not viable: rival

Incitec Pivot has questioned the wisdom behind rival Orica’s plan to build a $700 million ammonium nitrate plant in Western Australia’s Pilbara.

Investors reap rewards of lean times

28 March 2012 | Bina Brown

PRINT: 28 March 2012 | PAGE 29 | Investors reap rewards of lean times

Investors tired of watching stumbling share prices should take some comfort from the rise in dividend payments among many of the major listed companies.

Independent liquor groups sidle up to the big boys at the bar

23 March 2012 | Julie-anne Sprague

PRINT: 23 March 2012 | PAGE 22 | Indy liquor groups sidle up to the big boys at the bar

Australia’s second-largest independent liquor group has struck a merger deal that increases the number of its liquor stores by 30 per cent as it tries to win market share from Woolworths and Coles.

Food makers take on retail giants

23 March 2012 | Sue Mitchell

PRINT: 23 March 2012 | PAGE 9 | Food group takes on retail giants

After lobbying unsuccessfully for a supermarket ombudsman and grocery industry code of conduct, the Australian Food & Grocery Council is taking matters into its own hands.

Red tape tangles $40bn corporate bonds

22 March 2012 | John Kehoe

PRINT: 22 March 2012 | PAGE 3 | Red tape tangles $40bn bonds

Retail investors could buy up to $40 billion of corporate bonds if the regulatory burden on companies wanting to issue the securities is eased, ANZ Banking Group says.

Wesfarmers opts for local debt

21 March 2012 | Jonathan Shapiro

PRINT: 22 March 2012 | PAGE 48 | Wesfarmersopts for

As global bond markets come back to life, Australia’s largest companies are paying more attention to the local corporate bond market.

Wesfarmers launches Aussie bond issue

21 March 2012 | Jonathan Shapiro

Wesfarmers is the latest Australian company to favour the domestic bond market as offshore borrowing costs rise- launching a $400 million seven-year raising.

Grocers go bananas over fees

21 March 2012 | Sue Mitchell

PRINT: 21 March 2012 | PAGE 22 | Grocers go bananas over fees

Independent grocers have called on the Reserve Bank of Australia to review proposed changes to eftpos charges, saying small retailers face significantly higher fees than those born by Woolworths and Coles.

Myer may say bye to Sundays

16 March 2012 | Sue Mitchell

PRINT: 16 March 2012 | PAGE 7 | Myer says bye buy to Sundays

Australia’s largest department store retailer may close stores on Sundays and stop hiring university and school students because of the higher wages it has to pay on weekends.

Coles close but still no cigar

15 March 2012 | Sue Mitchell

PRINT: 15 March 2012 | PAGE 30 | Coles close but no cigar

When Coles again grew sales faster than Woolworths, analysts thought it was only a matter of time before Coles caught up with Woolworths.

Overseas funding costs to escalate

15 March 2012 | Jonathan Shapiro

PRINT: 15 March 2012 | PAGE 27 | Overseas funding costs to escalate

It’s going to become a lot more expensive for local companies to access long-term debt from offshore markets as new banking rules push the cost of hedging against currency swings higher.

Retailers reluctant builders

13 March 2012 | Zoë Fielding

PRINT: PAGE 54 | Retailers reluctant builders

Tight lending conditions for property developers have pushed Wesfarmers and Woolworths to increase their building programs but both have started culling their portfolios.

Wesfarmers (WES)

09 March 2012 | Bianca Hartge-Hazelman

Deutsche Bank has maintained its “hold” recommendation and $28 price target on Wesfarmers saying that its analysis of the company suggests the stock is fully valued at current levels.

Down Under shows its upside

09 March 2012 | Dominic White

PRINT: 09 March 2012 | PAGE 23 | Down Under shows its upside

Those 50 of Australia’s top executives that jetted to Citi’s annual Australia & New Zealand investment conference this week must have felt truly at home.

Gloucester shareholders to vote on $8bn deal

08 March 2012 | Dan Hall

PRINT: 09 March 2012 | PAGE 17 | Swan backs Gloucester China deal

NSW coal producer Gloucester Coal is set to hold shareholder meetings next month to vote on the company’s $8 billion merger proposal with China’s Yanzhou Coal.

Metcash fighter still pledged to the cause

08 March 2012 | Sue Mitchell

PRINT: 08 March 2012 | PAGE 33 | Fighter still pledged to the cause

Andrew Reitzer was never expecting his last years at the helm of grocery wholesaler Metcash to be easy.

Metcash boss battles toughest times in 14 years

08 March 2012 | Sue Mitchell

PRINT: 08 March 2012 | PAGE 27 | Metcash boss battles the toughest times in 14 years

Australia’s largest grocery wholesaler is battling its worst year in more than a decade as an oversupply of produce and the price war between Woolworths and Coles creates unprecedented pressure, Metcash chief Andrew Reitzer has warned.

Coles makes Twitter blunder

07 March 2012 | David Ramli

Supermarket chain becomes the second major brand in less than a week to court public scorn through social media.

Coles staff stop checking out

06 March 2012 | Fiona Smith

PRINT: 06 March 2012 | PAGE 59 | Coles staff have stopped checking out, at last

How once-struggling supermarket chain Coles improved working conditions for staff - and profited.

Trending | Social media

06 March 2012 |

PRINT: 06 March 2012 | PAGE 35 | Trending

How the big stories developed.

Liquor war gets close, personal

06 March 2012 | Julie-anne Sprague

PRINT: 06 March 2012 | PAGE 25 | Liquor war gets close, personal

Coles Liquor boss Tony Leon is a tough negotiator. Yet as tough as he may be, the battle to deliver the fortunes he helped to create for rival Woolworths is proving challenging.

Profits withering on the vine

06 March 2012 | Julie-anne Sprague

PRINT: 06 March 2012 | PAGE 25 | Profits withering on the vine

The head of National Australia Bank’s agribusiness division has warned that even if the local currency drops below parity Australian winemakers would face challenging conditions.

Woolies takes the long view

05 March 2012 | Sue Mitchell

PRINT: 05 March 2012 | PAGE 56 | Woolies takes the long view

Woolworths chief executive Grant O’Brien may not know much about mining, but he has a lot in common with BHP Billiton chief Marius Kloppers.

No bottling it up in liquor wars

05 March 2012 | Julie-anne Sprague

PRINT: 05 March 2012 | PAGE 17 | No bottling it up in liquor wars

Coles Liquor boss Tony Leon has fired a rare shot across the bow of former employer Woolworths, arguing it fell short on sales.

Woolies looks firmly to future

02 March 2012 | Tony Boyd

PRINT: 02 March 2012 | PAGE 56 | Woolies looks firmly to future

It’s a conundrum and nobody knows it better than Grant O’Brien – how much do you sacrifice in the short term to build for the long term?

Woolworths leads with liquor

02 March 2012 | Sue Mitchell

PRINT: 02 March 2012 | PAGE 24 | Woolworths leads with liquor

If success is the sweetest form of revenge, Woolworths has no regrets about losing one of its key liquor executives to Coles three years ago.

Orica to build $700m plant in WA

02 March 2012 | Luke Forrestal

PRINT: 02 March 2012 | PAGE 20 | Orica to build $700m plant in WA

Orica appears to be banking on higher than expected demand for explosives from the mining industry as it seeks to increase its presence in the Western Australian market.

Woolworths profit down 17pc, a first since 1999

01 March 2012 | Sue Mitchell

PRINT: 01 March 2012 | PAGE 17 | Woolworths profit down 17pc, a first since 1999

Updated | Woolworths has delivered its weakest profit growth for 13 years but re­assured investors that more than $5 billion reinvested in its business and a renewed focus on costs will start to deliver in 2013.

Retailers defy the downturn and open stores

29 February 2012 | Zoë Fielding

PRINT: 29 February 2012 | PAGE 53 | Open and shut case for stores

Some retailers have been shutting stores and threatening further closures as difficult trading conditions bite but others are doing well and are implementing expansion plans.

Wesfarmers exits pub trio, seeks joint-venture partner

29 February 2012 | Gretchen Friemann

PRINT: 29 February 2012 | PAGE 51 | Wesfarmers exits pub trio, seeks partner

Supermarket giant Wesfarmers has slipped three of its pubs on to the market for about $15 million as it renews its long-running search for a joint-venture partner.

States differ on national electricity price reform

27 February 2012 | Geoff Winestock

PRINT: 15 February 2012 | PAGE 10 | States at odds on power price reform

The states are split over reform of the $60 billion electricity network, with Victoria and South Australia backing changes but NSW and Queensland fighting to protect dividends from their state-owned companies.

TA Associates may look at Moraitis

22 February 2012 | Sarah Thompson and Stephen Shore

PRINT: 22 February 2012 | PAGE 18 | TA takes a shine to Moraitis Group

The collapse of SP Exports couldn’t have come at a worse time for Catalyst Investment Managers and the Moraitis family.

WA partly open on Sundays

22 February 2012 | Peter Kerr

PRINT: 22 February 2012 | PAGE 10 | Partly open on Sundays

Woolworths’ new Masters hardware chain will remain closed in Western Australia on Sundays despite new laws being introduced to relax shopping hour restrictions.

Wesfarmers (WES)

21 February 2012 | Sue Mitchell

PRINT: 22 February 2012 | PAGE 22 |

Brokers have scaled back profit forecasts and price targets at Wesfarmers after softer than expected interim results.

Reporting season off to a slow start

20 February 2012 | Sarah Thompson and Stephen Shore

It’s still early days in reporting season, but so far there has been more bad news than good.

Coles buys Crows Nest shopping centre

20 February 2012 | Zoë Fielding

PRINT: 20 February 2012 | PAGE 48 | Coles buys site in Crows Nest

Coles Group Property Developments has bought a shopping centre redevelopment site at Crows Nest in Sydney for $19.5 million.

Coles shakes off liquor hangover

20 February 2012 | Sue Mitchell

PRINT: 20 February 2012 | PAGE 18 | Coles shakes off liquor hangover

Coles has reshuffled management in its liquor operations in a bid to boost sales and earnings, which have underperformed those at Woolworths and have been a drag on profit growth in supermarkets.

The backlash from business

18 February 2012 | Louise Dodson

PRINT: 18 February 2012 | PAGE 45 | The backlash from business

Business has found a new and louder voice as it calls on the government to change its policies to arrest a threatened downward slide in Australia’s international competitiveness.

Woolies, Coles increase global dominance

17 February 2012 |

Australia's two most powerful supermarket players, Woolworths and Coles, have increased their dominance on a global scale after being named among Deloitte’s top 21 retailers in the world.

Wesfarmers (WES)

17 February 2012 | Bianca Hartge-Hazelman

Deutsche Bank has maintained its “hold” rating on Wesfarmers after the conglomerate reported a first-half net profit of $1.2 billion on Thursday, broadly in-line with expectations.

Warning on coal prices

17 February 2012 | Dan Hall

PRINT: 17 February 2012 | PAGE 41 | Warning on coal prices

Wesfarmers managing director Richard Goyder has warned that the company’s resources division will be under pressure amid softening coal prices.

Another victim of its own success

17 February 2012 | Sue Mitchell

PRINT: 17 February 2012 | PAGE 41 | Another victim of its own success

Earnings at Coles supermarkets and liquor stores grew more than twice the rate of sales in the December half as the retailer reaped the benefits of investment in new formats, price promotions and cost savings.

Wesfarmers shares fall 2pc on profit result

16 February 2012 |

Shares in Wesfarmers fell more than 2 per cent after the retail giant said profit rose just 0.3 per cent in the first-half as it navigates challenging short-term trading conditions.

Goyder looks on the bright side

16 February 2012 | Sue Mitchell

PRINT: 17 February 2012 | PAGE 41 | Goyder looks on the bright side

Updated | Wesfarmers has flagged further heavy capital investment across its portfolio of retail, resources and industrial assets this year after a mixed performance led to weaker than expected interim results.

Floods, expansions hit Wesfarmers coal earnings

16 February 2012 | Dan Hall

Wesfarmer’s coal division has reported earnings of $250 million during the half year to December 31, 2011, broadly in line with the previous corresponding period.

Property briefs

14 February 2012 |

PRINT: 14 February 2012 | PAGE 47 |

Independent experts Deloitte have deemed Tishman Speyer Office Fund’s planned wind-up as “fair and reasonable” and in the best interest of the fund’s shareholders.

Traders bullish on derivatives

14 February 2012 | John Wasiliev

PRINT: 14 February 2012 | PAGE 24 | Traders bullish after zippy start to week

Action in global financial markets overnight and the mid-week meeting by euro zone finance minister will test yesterday’s positive start to the derivatives trading week.

Darts for banks, but point taken

14 February 2012 |

PRINT: 14 February 2012 | PAGE 36 | Darts for banks, but point taken

Phil Chronican admits the timing was “pretty unfortunate”. Confirming the loss of 490 ANZ jobs and foreshadowing a further 400 could go.

Day’s work isn’t what it used to be

14 February 2012 | Mathew Dunckley

PRINT: 14 February 2012 | PAGE 11 | Day’s work isn’t what it used to be, won’t be again

Greater workplace flexibility was not only about improving company performance, it was also about giving employees what they wanted, says Westpac boss Gail Kelly.

‘High-cost, low-productivity nation’

14 February 2012 | Louise Dodson

PRINT: 14 February 2012 | PAGE 11 | ‘High cost, low productivity nation’

Exclusive | Australia is losing the battle to be internationally competitive and has become a high-cost, low-productivity country complacent about what is needed to secure its future prosperity, leaders of Australia’s largest companies warn.

Sack petrol commissioner, says Xenophon

13 February 2012 |

Independent senator Nick Xenophon has called for the sacking Australia's petrol commissioner in the wake of a report which says motorists are being gouged by supermarkets and fuel companies.

Woolies seeks a fresh approach

13 February 2012 | Sue Mitchell

PRINT: 13 February 2012 | PAGE 42 | Woolworths seeks a fresh approach

When Woolworths last reviewed its supermarket advertising account in 2002 it ditched the incumbent but retained the 15-year-old “Fresh food people” slogan.

Woolworths’ bonuses put on fine line

08 February 2012 | Sue Mitchell

PRINT: 08 February 2012 | PAGE 47 | Woolworths’ bonuses put on fine line

Exclusive | Woolworths staff may miss out on bonuses worth hundreds of millions of dollars this year if Australia’s largest retailer fails to achieve earnings growth targets under a new incentive program.

Supermarkets set for bumpy food price ride

08 February 2012 | Joanna Heath

PRINT: 08 February 2012 | PAGE 31 | Supermarkets set for bumpy food price ride

With no end in sight to spiralling grocery price deflation and shrinking margins, investors in supermarket stocks may need to re-adjust their perceptions of risk.

Businesses rethinking mobile plan

06 February 2012 | Brian Corrigan

PRINT: 07 February 2012 | PAGE 44 | Businesses rethinking mobile plan

Companies in the banking, retail and media sectors have been warned that failure to develop an Android version before the end of the year will render their applications useless for almost half of Australian smartphone users.

ACCC Asahi call under fire

06 February 2012 | Sue Mitchell

PRINT: 06 February 2012 | PAGE 15 | ACCC’s Asahi call under fire

Small bottlers up in arms over the Australian Competition and Consumer Commission’s decision to clear Asahi’s acquisition of Mountain H20.

National briefs

06 February 2012 |

PRINT: 06 February 2012 | PAGE 8 |

The government says it is appalled by the failure of the United Nations Security Council to adopt a resolution that would pave the way for a political transition in Syria

Smart shoppers show up retailers

04 February 2012 | Sue Mitchell

PRINT: 04 February 2012 | PAGE 18 | Smart shoppers show up retailers

Retailers are crying poor, but strong volume and customer growth at discretionary retailers Kmart and Big W, supermarket chains Coles and Woolworths, and on air travel and eating out proves consumers are spending.

Time for the lost generation

04 February 2012 | Jonathan Barrett

PRINT: 04 February 2012 | PAGE 49 | Time for the lost generation

The boom has bypassed Aboriginal Australia but there’s a new plan afoot to share the wealth.

Macquarie cuts Wesfarmers to neutral

03 February 2012 | Sarah Thompson and Stephen Shore

Macquarie has downgraded Wesfarmers to a ‘neutral’ recommendation after Coles’s quarterly sales figures fell short of expectations.

Wesfarmers (WES)

03 February 2012 | Bianca Hartge-Hazelman

Deutsche Bank has maintained its “hold” rating on Wesfarmers and has lowered its price target by $1 to $29 after the conglomerate’s major retail divisions missed second-quarter sales expectations.

Whiz-kid turns hand to liquor

03 February 2012 | Julie-anne Sprague

PRINT: 03 February 2012 | PAGE 40 | Whiz-kid turns hand to liquor

He penned a top selling book on the economy at 28, won an Oxford University award and was an adviser to former prime minister Kevin Rudd. Can economics whiz-kid Andrew Charlton help revive the Coles liquor business?

Kmart, Target duel at head of pack

03 February 2012 | Sue Mitchell

PRINT: 03 February 2012 | PAGE 40 | Kmart, Target duel at head of pack

Wesfarmers mid-market department store chain Target appears to be losing business to its discount stablemate Kmart as cautious consumers search for value.

An extra 170,000 people call in sick after Australia Day

03 February 2012 | Peter Roberts

PRINT: 03 February 2012 | PAGE 9 | Post-Australia Day sickies up

More than 170,000 extra people called in sick the day after the Australia Day holiday, illustrating the nation’s high level of absenteeism, an employer group says.

Coles leads food fight, for now

02 February 2012 | MICHAEL SMITH

Updated | Coles may be well ahead of Woolworths in the great Australian food fight but supermarket boss Ian McLeod can’t afford to rest on his laurels.

Wesfarmers result disappoints investors

02 February 2012 | Stephen Shore

Investors are expected to sell Wesfarmers stock this morning after quarterly sales figures came in below analysts expectations.

Wesfarmers’ Goyder vows to keep up price cuts

02 February 2012 | Sue Mitchell

PRINT: 03 February 2012 | PAGE 40 | Goyder vows to keep up price cuts

Updated | Wesfarmers managing director Richard Goyder has vowed to continue investing cost savings and efficiency gains into reducing prices, even though deflation is crimping sales growth at Coles, Bunnings and Kmart.

ANZ’s Burrup saga is paid out

02 February 2012 | Peter Kerr

PRINT: 02 February 2012 | PAGE 20 | ANZ’s Burrup saga is paid out

ANZ’s long-running attempt to recover $900 million loaned to West Australian-based Burrup Fertilisers has been successful, after the two leading bidders for the group split the spoils.

Coles buys shopping centre in West Gosford

01 February 2012 | Ben Wilmot

PRINT: 01 February 2012 | PAGE 49 | Coles buys centre in Gosford

Coles Group has bought West Gosford Shopping Centre on the NSW Central Coast for $28.5 million.

Woolies dumps Dick, profit to dip

31 January 2012 | MICHAEL SMITH

Woolworths will book its first earnings decline in a decade as CEO Grant O’Brien moves to close 100 Dick Smith stores.

Woolworths pulls plug on Dick Smith

31 January 2012 | Sue Mitchell

PRINT: 01 February 2012 | PAGE 1 | Woolworths pulls plug on Dick Smith

Woolworths’ earnings will decline for the first time in 13 years after Australia’s biggest retailer decided to jettison the Dick Smith electronics chain as part of a longer-term plan to restore profit growth to 10 per cent.

Investors await Woolworths’ results

31 January 2012 | Sarah Thompson, Christine Lacy and Stephen Shore

PRINT: 31 January 2012 | PAGE 18 | Investors await gauge of tinsel time

The market will be bracing this morning for the release of second-quarter sales figures for local supermarket giant Woolworths, one of the first indicators of Christmas trading activity.

New Woolies board sees subdued growth

31 January 2012 | Neil Shoebridge

PRINT: 31 January 2012 | PAGE 16 | New Woolies board sees subdued growth

The troika of new Woolworths directors attended their first board meeting yesterday, ahead of the release of the retailer’s December-quarter sales numbers today.

Woolies struggles to stack up

30 January 2012 | Sue Mitchell

PRINT: 30 January 2012 | PAGE 48 | Woolies struggles to stack up

Woolworths chief Grant O’Brien must have felt a sense of deju vu this month when UK retailer Tesco announced its first profit downgrade in 20 years.

Smarter shoppers put paid to retail’s hopes

30 January 2012 | Neil Shoebridge

PRINT: 30 January 2012 | PAGE 33 | Smarter shoppers put paid to retail’s hopes

The start of a new year has not brought any good news for most Australian retailers.

Likely higher oil price sparks output interest

30 January 2012 | Bianca Hartge-Hazelman

PRINT: 30 January 2012 | PAGE 22 | Likely higher oil price sparks output interest

Oil companies will be in focus this week as a number of large caps are due to release their production updates for the December quarter.

Retail giants push for overhaul of WA laws

27 January 2012 | Julie-anne Sprague

PRINT: 27 January 2012 | PAGE 12 | Retailers push for WA overhaul

Australia’s two biggest retailers have urged WA politicians to move quickly to liberate the state’s shopping laws, saying they deter investment and increase costs.

Back door swings wide open

27 January 2012 | Tony Boyd

PRINT: 28 January 2012 | PAGE 64 | Back door swings wide open

The long-term hibernation of the IPO market in Australia is likely to lead to greater use of back-door listings as well as increased complexity in the structuring of M&A deals.

API unfazed by health and beauty wars

27 January 2012 | Carrie LaFrenz

PRINT: 21 January 2012 | PAGE 37 | API unfazed by health, beauty wars

Australian Pharmaceutical Industries chief executive Stephen Roche has shrugged off the large grocers‘ push into the health and beauty sector, saying API’s Priceline chain is not losing market share and will drive earnings growth this year.

Metcash aims to add muscle with exec restructure

27 January 2012 | Sue Mitchell

PRINT: 27 January 2012 | PAGE 18 | Metcash moves to add muscle

The head of Metcash’s grocery distribution business has emerged as the most likely candidate to take the reins when chief executive Andrew Reitzer retires next year.

Weather set to spoil Aust Day retail

25 January 2012 |

Horrid summer weather could spoil the party for food and liquor retailers this Australia Day as people cancel their traditional barbecues.

More monsoonal rain for Qld

25 January 2012 |

Queensland will be hammered by monsoonal rain over the next week and a cyclone could form off the north coast, Premier Anna Bligh has warned.

Franklins store sales set to start in February

25 January 2012 | Sue Mitchell

PRINT: 25 January 2012 | PAGE 41 | Franklins store sales set to start in February

Metcash has wasted little time offloading Franklins stores to independent retailers following its historic victory against the Australian Competition and Consumer Commission late last year.

Metcash to wait and see on Mitre 10

25 January 2012 | Sue Mitchell

PRINT: 25 January 2012 | PAGE 41 | Metcash to wait and see on Mitre 10

Metcash will observe the impact of Woolworths’ entry into the hardware sector before deciding whether to buy out the rest of the Mitre 10 hardware chain this year.

In brief

21 January 2012 |

PRINT: 21 January 2012 | PAGE 21 |

Charter Hall Office REIT has confirmed unit holders should receive $3.63 per share from the disposal of the US portfolio and privatisation of the Australian assets.

Wesfarmers insurance head defends industry

20 January 2012 |

The head of Wesfarmers’ insurance arm has defended the local industry in the face of premium rises of as much as 15 per cent for home insurance.

EU bond auctions, US banks bolster risk tolerance

20 January 2012 | Brendon Lau

Before the Bell | Strong demand for Spanish and French debt and more positive US bank results are helping to lift Wall Street ■ S&P 500 up 0.4pc ■ SPI futures up 29pts ■ $A at $1.0412.

Why Wesfarmers’ insurance policy puzzles

20 January 2012 | Sarah Thompson, Christine Lacy and Stephen Shore

PRINT: 20 January 2012 | PAGE 20 | Wesfarmers’ insurance policy puzzles

Not for the first time, investors are querying why Wesfarmers remains wedded to its insurance business, which is facing a second year of poor returns after another blow-out in claims.