Australia Post is putting hundreds of posties in vans, hiring an extra 600 casuals and bringing 15 more processing facilities online to handle a near doubling of parcel traffic over the past month as virus-isolated consumers shop online.
Department giant Myer has reported a 37 per cent drop in first half profit, weighed down by restructuring cost, redundancies and the exit of Apple products and Country Road Group brands.
Woolworths has upped its estimated staff underpayments to $315 million and says the final amount could still be higher once a review into the nine-year scandal is complete.
Supermarket giant Coles is the latest major retailer to be caught up in an underpayment scandal, with the company expecting a $20 million hit after underpaying managers at its supermarkets and liquor division over the past six years.
Commonwealth Bank has beaten market expectations with a $4.48 billion first-half cash profit amid pressure from record low interest rates, bushfire impacts and rising costs.
Bushfires and Australia’s embrace of the November Black Friday sales has taken a worse-than-expected toll on December retail trade, with cafes and restaurants particularly affected in a 0.5 per cent monthly spending drop.