Sale Boom for Super Retailer in June | ASX Market Update

  • Jul 31, 2020 AEST
  • Team Kalkine

Super Retail, which operates chains including Supercheap Auto, Rebel Sport and BCF camping and outdoor lifestyle products, experienced a sales boom in June as the country came out of lockdown and shoppers spent up on fitness equipment and car accessories and spare parts. The company said like-for-like sales, which strip out the impact of new store openings or closures, soared 27.7 per cent in June in a rebound that began in May, after a heavy slump in April. It ignited a nine per cent increase in Super Retail's share price to $8.84 by lunchtime Friday.

A potential coronavirus vaccine being developed by Adelaide scientists has cleared the first phase of human trials and could be available in “three or four months.” Named COVAX-19, the drug was found to be safe and generated an immune response in participants after being injected into 40 volunteers earlier this month. Developed by company Vaxine and researchers at Flinders University, the vaccine is the first candidate to clear phase one trials in Australia. It’s also one of only a handful that have progressed beyond the first phase of human trials in the world. Phase two trials for COVAX-19, set to involve between 400 and 500 volunteers, are scheduled to begin in September.

ACCC pointed out that the Australian media would be able to negotiate with Google and Facebook to promptly secure fair payment for news content if a draft mandatory code released by ACCC is adopted. The draft code focuses on severe bargaining power differences between Australian news businesses and Google and Facebook, along with the binding “final offer” arbitration process. In case the new businesses & the digital platforms cannot reach a deal via a formal 3-month negotiation and mediation process, then an independent arbitrator would decide which of the two parties’ final offer is the most acceptable within 45 business days.



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