EUR/USD 1.16054
-0.100%
Gold 4508.22
-0.767%
Oil 95.267
-1.973%
USD/JPY 159.162
0.116%
GBP/USD 1.34395
0.066%
GBP/JPY 213.893
0.184%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
On May 23, Iranian Foreign Ministry spokesman Baghae stated that the core purpose of Pakistani Army Chief of Staff Munirs visit to Iran was to convey and exchange specific information between Iran and the United States. He said, "At this stage, all our core focus is on ending this war of imposition." Baghae indicated that the two sides have held several rounds of intensive exchanges of views on different clauses in the proposal. They have also conducted in-depth discussions on issues where they have serious disagreements. Given the consistently contradictory stance of the United States, Iran cannot currently assert that this negotiation process will undergo a fundamental change. He said, "Our views have indeed converged somewhat, but this does not mean an agreement has been reached; it merely allows us to explore a possible solution."On May 23, an Iranian Foreign Ministry spokesperson stated that the current mediation process with the United States is "time-consuming and laborious" because the USs hostility dates back decades. "We discussed some key points and wording where disagreements remain, and made suggestions, some of which are still under review, with all parties expressing their opinions," the Islamic Republic News Agency quoted Bagae as saying. Bagae also thanked Pakistan for its mediation efforts.Iranian Foreign Ministry Spokesperson: We are currently focused on finalizing the memorandum of understanding with the United States. Over the past week, the two sides have been getting closer, and we must wait and see what happens in the next three or four days.Naftogaz, Ukraines state-owned gas company, reported that Russia attacked the Naftogaz oil and gas facilities in the Kharkiv and Poltava regions.Iranian Foreign Ministry Spokesperson: The trend this week is toward reducing differences, but we need to observe the situation over the next few days.

According to Australian Retailer Woolworths, Inflation Is Driving Home Dining

Haiden Holmes

Feb 22, 2023 14:10

微信截图_20230222141146.png


Woolworths Group Ltd, a leading Australian retailer, said that an inflation-driven move away from dining out aided in boosting sales, driving its shares higher after its half-year earnings above expectations despite cost challenges.


Since COVID-19 lockdowns in 2020 prompted supermarket hoarding, Woolworths and its smaller competitor Coles Group (OTC:CLEGF) Ltd have witnessed significant fluctuations in Australian customer behavior. As lockdowns were lifted in 2021, and again in 2022, sales slowed as rising energy and labor costs pushed up shelf prices.


Woolworths said on Wednesday that cost-of-living constraints, including skyrocketing electricity prices and nine interest rate rises since May, are now beginning to benefit stores as consumers choose for in-home consumption.


Since the beginning of 2023, food sales have increased 6.5%, roughly in step with inflation, compared to just 2.4% in the six months leading up to the end of December, the business reported.


"The shift from eating in restaurants to eating at home has become more evident," said Chief Executive Brad Banducci to reporters.


He stated that a growing number of clients from all demographic groups are now preparing meals at home since eating out is becoming more expensive.


The company's net profit before significant items increased 14% to A$907 million ($622 million), above the Visible Alpha consensus estimate of A$877 million. The majority of the increase was attributable to employee back pay linked to a prior salaries miscalculation.


Similar to Tuesday's announcement of Coles' interim results, Woolworths' profit increase was aided by a dramatic drop in COVID-19-related expenditures.


At midday, Woolworths shares were up 2%, compared to a 0.3% decline in the overall index, as analysts hailed the potential of profit margin expansion at a business vulnerable to rising supplier prices.


Phillip Kimber, a retail analyst at E&P Financial, wrote in a client note, "The momentum in the core Australian Food industry remains strong, with sales growth rates above expectations in early 2H23."


Woolworths declared an interim dividend of 46 Australian cents per share, up from 39 Australian cents per share the previous year.

Suggestion