Australia Retail

Origin Energy has agreed a deal to underwrite the development of Venice Energy’s LNG import terminal in South Australia, as Australia’s largest electricity and gas retailer moves to secure supply routes ahead of a looming east coast domestic crunch.

Officeworks boss Sarah Hunter has revealed ambitious growth plans for WA as the retailer unveils its new Perth warehouse, which is set to double the company’s operational footprint in the State.

Wesfarmers chief executive Rob Scott says cautious consumers continue to be wary about making big-ticket purchases at its hardware retail giant Bunnings, opting for smaller outlays on repair and maintenance products, although trading across its key ­retail brands was holding up in the face of uncertain economic conditions.

Home appliance and consumer electronics sales fell for JB Hi-Fi and The Good Guys as the companies face a ‘tougher retail trading environment’.

Electronics giant JB Hi-Fi has posted a first quarter sales decline for its Australian operations amid what it describes a challenging retail environment.

Coles boss Leah Weckert says inflation in key supermarket grocery categories is moderating as the retailer posts a 3.6 per cent jump in sales.

The resurgence of city retail in the wake of the coronavirus crisis is defying a likely interest rate rise with a wealthy family splashing out $145m for a famed property on Brisbane’s Queen Street Mall.

Retail giant Woolworths says lower prices and improved availability have increased demand for fruit, vegetables and meat, pushing its sales in first quarter of the new financial year higher.

Students are leaving college early to launch their own AI startups. WSJ reporter Lindsay Ellis joins host J.R. Whalen to discuss why they feel now is the best time to start an AI business, and the risks some face. Photo: Andri Tambunan For The Wall Street Journal