Record Plunge In Retail Sales During Lockdown | NZ Market Update

As per Stats NZ, retail sales values dropped by a record 15 per cent in June 2020 quarter during the lockdown; it is the biggest fall on record in the last 25 years. Going by the report, spending on eating out, vehicles, fuel, and accommodation away from home, all fell sharply in the quarter as compared with the previous year's corresponding period.

Express package and information management company Freightways ( freightways share ) said its net profit fell by 25 percent to $47.4 million in the June year and that it would not pay a final dividend due to the uncertainty surrounding the Covid-19 pandemic. The company paid an interim dividend of 15c early this year. Last year's final dividend came to 15.5c, taking the total dividend for that year to 30.4c.

M?nuka honey business Comvita has made 90 staff redundant as part of a company restructure. On Monday the manufacturer reported a 2020 full-year net loss of $9.7 million, which included a one-off $9.3m write down of underperforming or overvalued assets. In the 2019 financial year it made a $28m net loss.

#Comvita #NewZealand #Frieghtways #Kalkine

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