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ASX:EDV

11 stories mentioning ASX:EDV

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Asia

News Corp's Content Agency Launches Retail Media Division

News Corp's (ASX:NWS) Australia content agency, Suddenly, launched a retail media division, partnering with liquor retailer and Endeavour Group (ASX:EDV) unit BWS to manage non-endemic sales for its national in-store screen network, the media and information services company said in a statement on Tuesday.Jennifer Stokes joins the content agency as retail media director to lead the new division, the statement said.News Corp shares rose 2% in morning trade on Tuesday.

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Asia

Market Chatter: Endeavour Group Offers Scope for Market Share Gains, Citi Says

Endeavour Group (ASX:EDV) offers scope for market share gains despite near-term earnings uncertainty, according to Citi analyst Sam Teeger, the Australian Financial Review (AFR) reported on Thursday.The new management's focus on price could help it regain share from Coles (ASX:COL) and other competitors, particularly in the retail alcohol space, Teeger said, per the report.He sees any asset sales in the company's wine and vineyard portfolio as a potential positive for execution focus.Citi upgraded Endeavour to buy and lowered the price target by 6% to AU$3.25.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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Asia

Endeavour Group Faces Structural Consumption Headwinds, Says Jefferies

Endeavour Group (ASX:EDV) is facing structural headwinds to alcohol consumption, alongside a challenging consumer spending environment, which explains why management has not provided explicit earnings growth targets, according to a Thursday Jefferies note.Excess inventory is expected to support stock-related profits in fiscal year 2027, and there could also be upside if Coles Group (ASX:COL) exits the large-format liquor retail segment, the note added.Jefferies said that regulatory risk related to gaming operations remains an ongoing concern, and although the valuation appears depressed, the pathway to growing gross profit faster than costs remains unclear.Jefferies kept a hold rating on Endeavour and decreased its price target to AU$3.20 from AU$3.50.

ASX:COLASX:EDV
Asia

Australian Shares Up; Endeavour Group Targets AU$300 Million of Cost Savings by Fiscal Year 2029, to Exit Non-Core Winery, Agricultural Assets

Australian shares rose on Wednesday as the US stock indices reached new records overnight.The S&P/ASX 200 Index increased by 0.69%, or 59.90 points, to close at 8,717.70.Brent crude oil futures hovered around $98 per barrel as investors expected progress for a peace agreement between the US and Iran.The S&P 500 and the Nasdaq Composite rose 0.6% and 1.2%, respectively, hitting record highs.On the domestic front, Australia's consumer price index rose 4.2% in the 12 months to April, down from a 4.6% increase in the year to March, the Australian Bureau of Statistics reported. Trimmed mean inflation came in at 3.4% in the 12 months to April, up from 3.3% in the year to March.The six-month annualized growth rate in the Westpac-Melbourne Institute Leading Index slipped deeper into negative territory, declining to about -0.2% in April from -0.1% in March, according to a Westpac report.In company news, Endeavour Group (ASX:EDV) is targeting AU$300 million of cost savings to be delivered by fiscal year 2029. It also plans to exit or sell non-core winery, as well as agricultural assets, reduce its own grape production by over 80%, and concentrate investment on high-performing brands with proven retail demand within its Pinnacle Drinks business.The Australian Federal Court ordered Westpac Banking (ASX:WBC, NZE:WBC) to pay AU$26 million in civil penalties after failing to respond to over 200 online hardship requests within the time required by law from 2017 to 2023.Lastly, KMD Brands (ASX:KMD, NZE:KMD) reported a 5.2% jump in fiscal third-quarter sales, helped by strength in its flagship Kathmandu segment, even as its footwear business Oboz saw a decline amid geopolitical and market tensions. Its board is also conducting a business review to improve shareholder returns.

ASX 200ASX:EDVASX:KMDASX:WBCNZE:KMDNZE:WBC
Asia

Endeavour Group to Exit Non-Core Winery, Agricultural Assets, Cut Own Grape Production by Over 80% Following Review of Wine Portfolio; Shares Reach Lowest Point

Endeavour Group (ASX:EDV) said it plans to exit or sell non-core winery as well as agricultural assets, reduce its own grape production by over 80%, and concentrate investment on high-performing brands with proven retail demand within its Pinnacle Drinks business, according to a Wednesday statement.This is expected to result in around 99% flexible sourcing of purchased bulk wine and grapes from the viticulture market.It also plans to streamline production and packaging to a smaller number of high-scale sites. Winery operations will be consolidated from seven sites to three, with Cape Mentelle in Western Australia, the Dorrien Estate in South Australia, and the Isabel Estate in New Zealand being retained.It will seek a new owner for the Oakridge brand and operation in the Yarra Valley. The Chapel Hill, Riddoch Coonawarra, and Krondorf Barossa brands will be retained, but their vineyards and physical assets are expected to be sold. Chapel Hill operations will close at the end of June.The firm does not intend to renew its lease of Josef Chromy, and assets associated with the business are under review.A high-scale packaging facility will be retained at Vinpac Angaston in the Barossa Valley in South Australia. The Vinpac McLaren Vale bottling facility will close later in the year.Endeavour Group's shares fell 4% in recent trading on Wednesday, reaching their lowest-ever point.

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Asia

Endeavour Group Targets AU$300 Million of Cost Savings by Fiscal 2029; Shares Hit All-Time Low

Endeavour Group (ASX:EDV) is targeting AU$300 million of cost savings to be delivered by fiscal 2029, according to a Wednesday Australian bourse filing.The company revised its targeted dividend payout ratio to between 50% and 75% of group underlying net profit after tax, the filing said. It also plans to lift investment in its hotels network via light touch renewals, refurbishments, and whole of venue repositioning.In the same filing, the company said it will also be exiting the majority of its existing winery and vineyard portfolio, including Chapel Hill, Oakridge, and Josef Chromy, as its Pinnacle Drinks business is repositioned to support retail.The company's shares fell nearly 4% in recent trading on Wednesday and earlier hit an all-time low.

ASX:EDV
Asia

Endeavour Group Faces Softer Growth Outlook Amid Moderating Gaming Spend, Jefferies Says

Endeavour Group (ASX:EDV) is seeing slowing momentum in gaming expenditure growth across Victoria and Queensland, while retail sales are expected to struggle to outpace inflation amid weakening consumer conditions, Jefferies said in a May 24 note.In Victoria, electronic gaming machine (EGM) spending at hotels and clubs rose 4.2% year over year to about AU$267 million in April, up from 2.9% in March, showing resilient gaming activity despite broader economic pressures.Queensland showed moderating growth, with EGM expenditure in hotels and clubs up 4.2% year-on-year to about AU$320 million in April, down from 6.4% in March, as hotel gaming rose 4% and club gaming 4.4%.Jefferies noted that spending on EGM in clubs and hotels across Victoria and Queensland is still increasing, though at a tighter pace, making it unclear whether the slowdown reflects weaker consumer confidence and household spending or tougher comparisons after a strong growth period.The firm remains "on the sidelines" regarding Endeavour Group despite acknowledging strong retail execution and operational improvements, as modest sales growth, rising costs, and softer consumer conditions continue to weigh on its outlook.The investment firm has a hold rating on Endeavour Group with a price target of AU$3.50 per share.

ASX:EDV
Asia

Endeavour Group Confirms Tim Poole as Independent Chairman

Endeavour Group's (ASX:EDV) board confirmed the appointment of Tim Poole as its independent chairman, effective Thursday, according to a same-day filing with the Australian bourse.Duncan Makeig has completed his term as the company's interim chairman and will remain as a non-executive director, per the filing.Endeavour Group shares were down 2% in recent Thursday trade.

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Asia

Jarden Adjusts Endeavour Group's Price Target to AU$3.20 From AU$3.10, Keeps at Underweight

Endeavour Group (ASX:EDV) has an average rating of hold and mean price target of AU$3.51, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)

ASX:EDV
Asia

Endeavour Group Flags Job Cuts as Part of AU$100 Million Cost Savings Plan

Endeavour Group (ASX:EDV) is targeting AU$100 million in cost savings to be delivered in fiscal year 2027, comprising initiatives focused on headcount reduction, store cost optimization, labor efficiency, centralized administration, and procurement savings, according to a Monday Australian bourse filing.

ASX:EDV
Asia

Endeavour Group's Fiscal Q3 Sales Rises

Endeavour Group (ASX:EDV) said its group sales for the fiscal third quarter reached AU$2.93 billion, up from AU$2.84 billion a year earlier, according to a Monday filing with the Australian bourse.Retail sales for the 13 weeks ended April 26 rose to AU$2.4 billion from AU$2.33 billion, while hotel sales rose to AU$531 million from AU$512 million, the filing said.The company is facing supply chain cost pressures due to higher fuel prices driven by the Middle East conflict and anticipates an additional AU$6 million to AU$8 million in fuel and freight expenses in fiscal 2026, primarily affecting retail gross margin, the filing added.

ASX:EDV