Latest Financial News - Inside FMCG

Latest Financial News - Inside FMCG

Hardware Lane in Melbourne's CBD

The suburbs are the future of post-Covid retail

The Covid-19 pandemic delivered a body blow to CBD retailers, but it’s just the latest of their challenges in recent years.

7-Eleven’s workplace

7-Eleven’s workplace compliance gets thumbs up after audits and $173m back pay

7-Eleven’s workplace compliance has improved significantly over the past three years, according to the Fair Work Ombudsman.

Bubs Australia revenue falls as diagou trade dries up 

Bubs Australia has seen gross revenue fall 34 per cent during the first quarter to $9.4 million, largely due to the disruption of the domestic daigou market hurting its milk-powder products.

Coles’ revenue continues growth in first quarter

Coles has continued riding the wave of heightened grocery activity throughout the first quarter of FY21, with group sales revenue growing 10.5 per cent to $9.6 billion.

Shopping trolley

Global FMCG profit margins rose by near-record amount prior to Covid-19

Before Covid-19 hit the world, profit margins in the global FMCG industry grew by 18.7 per cent, nudging 2007’s 18.9 per cent record.

MarleySpoon

Marley Spoon launches $56m placement to fund further growth

Meal-kit provider Marley Spoon has launched a fully underwritten $56 million institutional placement, with the proceeds go toward investing in its future growth and invest in the flexibility of its balance sheet.

Vegetables and calculator

Tax relief, job creation and asset write-off: How does the budget stack up for FMCG?

The 2020-21 budget outlined a monster deficit of $213.7 billion this year, and touts $17.8 billion in tax relief for cash-starved Australians with the intention that this money will be redirected back into the economy.

QLD wage theft bill passed despite industry concerns

Wage theft can now land business leaders ten years of jail time, with new laws passing in Queensland Parliament last week seeking to punish those who deliberately steal from their workers.

Fonterra acquires RFG’s Dairy Country business

The latest move of RFG falls under its 18-month restructure and transformation.

Aussie dollar steady

Australian dollar increases on Thursday.