Reporting season: All the latest news from companies releasing financial results to the ASX today

It was a brutal day for one of the country’s biggest retailers yesterday, with one of the big four banks also feeling the sting of investor disappointment.

Headshot of Daniel Newell
Daniel Newell
The West Australian
Stay with us as we bring you all the latest throughout the day.
Stay with us as we bring you all the latest throughout the day. Credit: Nic Ellis/THE WEST AUSTRALIAN

It was a brutal day for one of the country’s biggest retailers yesterday, with one of the big four banks also feeling the sting of investor disappointment.

JB Hi-Fi boss Nick Wells said trading had “got a little bit harder” since July, pointing to higher interest rates, the Federal Budget and a softer housing market as customers became more cautious. He also noted wary shoppers were increasingly seeking out value and only opening their wallets during promotions.

National Australia Bank told much the same story as its three major rivals, with home loan applications down 15 per cent in the June quarter. It also echoed warnings last week of slowed demand from CBA and Westpac.

Today, it’s the first of the bellwether miners to step up to the microphone and spill the beans on its finances. With a well-flagged warning about copper production, expect fireworks.

Also up today is fellow market heavyweights CSL and Cochlear, along with Challenger, Reliance Worldwide, HUB24 and Sims.

Stay with us as we bring you all the latest throughout the day.

Originally published on The West Australian

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