Terra Vitae says poor harvest to hit sales, earnings
By Gavin Evans | Sun, 19 May 2019
By Gavin Evans May 20 (BusinessDesk) - Grape grower Terra Vitae has warned earnings will be reduced by a poor harvest. The company, which has vineyards in Marlborough and Hawke’s Bay, says that...
UPDATE: Global ice cream company Froneri snaps up Tip Top
By Rebecca Howard | Mon, 13 May 2019
(Updates to add CEO comment throughout, comment from New Zealand First) By Rebecca Howard May 13 (BusinessDesk) - Global ice cream company Froneri has bought Fonterra Cooperative Group's Tip To...
Kiwis splash out on travel, food in April as card spending rises
By Rebecca Howard | Fri, 10 May 2019
By Rebecca Howard May 10 (BusinessDesk) - Spending on credit and debit cards increased in April as people took advantage of the extended holiday period to travel and eat out more. Seasonally-ad...
Warehouse lifts Q3 sales 1.9%, Red Sheds' same-store sales up 1.7%
By Jenny Ruth | Thu, 09 May 2019
By Jenny Ruth May 10 (BusinessDesk) - The Warehouse Group says its third quarter sales rose 1.9 percent with its flagship Red Sheds brand returning to positive same-store sales growth. The lates...
NZ commodity prices extend gain in April, March figures revised higher
By Rebecca Howard | Mon, 06 May 2019
By Rebecca Howard May 6 (BusinessDesk) - New Zealand commodity prices lifted in April and were significantly higher in March than previously reported, ANZ Bank’s monthly commodity price index shows...
Comvita shares tumble as it says honey production season was poor overall
By Rebecca Howard | Mon, 06 May 2019
By Rebecca Howard May 6 (BusinessDesk) - Comvita shares fell 9.3 percent after it said honey production had been "poor overall" for the third season in a row and it now expects a net loss of around...
Briscoe warns accounting change and margin squeeze may knock profit
By Paul McBeth | Sun, 05 May 2019
By Paul McBeth May 6 (BusinessDesk) - Briscoe Group says it may struggle to deliver another record profit as accounting rule changes reduce earnings already facing a squeeze from higher wages and i...
Countdown March-qtr sales growth underpinned by produce, perishables
By Paul McBeth | Thu, 02 May 2019
By Paul McBeth May 2 (BusinessDesk) - The Woolworths-owned Countdown supermarket chain lifted sales 3.2 percent in the March quarter, which the retailer put down to growth in fruit, vegetables and...
Moa says 2nd half trading loss narrowed on path to breaking even
By Paul McBeth | Wed, 01 May 2019
By Paul McBeth May 2 (BusinessDesk) - Moa Group says it narrowed its trading loss in the second half of the financial year as it works towards breaking even after seven years of red ink since the b...
Ebos' board, managers should hang their heads in shame: NZSA
By Jenny Ruth | Wed, 01 May 2019
By Jenny Ruth May 1 (BusinessDesk) - Ebos' board and managers should hang their heads in shame for cutting retail shareholders out of its discounted capital raising, which clearly wasn't urgent, sa...