25 Aug WE LIKE OUR PIZZAS CHEAP; WE DON’T ALWAYS LOVE A BARGAIN
WE LIKE OUR PIZZAS CHEAP
Same store sales of pizza franchise group Domino’s dropped by 0.2 per cent in the year to June 30, largely due to customers not being impressed by higher prices.
With food ingredients and energy prices rising by up to 11 per cent during the period, Domino’s did what most businesses tend to do in such situations: hike up prices and delivery fees.
CEO Don Meij told The Australian Financial Review that Domino’s may have “gone too far” in trying to claw back some costs, adding: “We think we’ve got our offering right, and we think we’re back.”
WE DON’T ALWAYS LOVE A BARGAIN
Bed linen, towels and cushions reduced by up to 60 per cent!
You would have thought customers of Adairs, the homewares retail chain, would be breaking down those doors … Not quite.
The group reported that sales at its stores had plunged by 8.9 per cent for the first seven weeks of the new financial year.
According to CEO Mark Ronan, shoppers battered by inflation and rising mortgage interest rates just cannot be tempted into buying extra towels and doonas – not even by huge discounts.
AND WE ARE CUTTING BACK ON BLING
After a stellar year to June 30, budget jewellery group Lovisa reported this week that comparable store sales were down 5.8 per cent since the beginning of the 2024 financial year.
Further proof that discretionary spending is tightening up, even among younger consumers.
Lovisa’s CEO, Victor Herrero, said the lower spending by consumers was “a great white space”.
SOUR TIMES IN LIMELAND
Hold on to your G&Ts – there is bad news for Australian lime growers.
Canberra this week gave the tentative green light for Mexican limes to be imported into the country, prompting worried growers to warn of unfair competition, and pests and diseases being introduced into the market.
Australia produces about 23,000 tonnes of limes a year compared to about three million tonnes grown in Mexico.
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