Wry & Dry #8-27
Premier Carroll’s Sargeant Schultz defence, against everything. California is also having railway budget problems. Italy’s PM breaks a new record. Why are there no potholes in WA’s roads? Lake America. Cigar box lids.
Reporting season – Sandfire, Woolworths and Aurelia Metals
The final week of company profit reporting season reinforced many of the themes that have been building through August. The clearest area of weakness remained domestic spending. Consumers are still under pressure, trading down where they can and becoming increasingly selective about discretionary purchases. Even Chemist Warehouse, one of the strongest structural growth stories in Australian retail, and the perennial darling Bunnings disappointed the market on sales. There was little in the week to suggest that the domestic consumer is about to become dramatically more generous.