Latest news with #AriMervis
Yahoo
6 days ago
- Business
- Yahoo
Endeavour Group exec chair leaves over board disagreements
Endeavour Group's executive chairman Ari Mervis has resigned from the Australian retail, wine and spirits business following a dispute with its board. "Endeavour Group today announces that Mr Ari Mervis has resigned as Executive Chairman effective 3 August 2025, citing disagreements with the board," an announcement on the ASX read today (4 August). Mervis had been promoted to executive chairman in February, following the departure of Endeavour Group's CEO Steve Donohue in March. Duncan Makeig, lead independent director, will take on the interim chair position and manage the search for a new independent chair. The chair position is expected to be filled before the start of next year, Endeavour said. Endeavour's chief financial officer Katie Beattie has also been appointed interim CEO. Jayne Hrdlicka was picked to take the reins as CEO of Endeavour in May. She starts the role in March next year. Group deputy CFO Tali Ross is to become interim CFO of the company. Makeig said: 'Kate has worked closely with the management team to ensure that operational performance and momentum is maintained across our business. We are confident in Kate's ability to continue leading the business as interim CEO through to Jayne's commencement in January.' 'The Board and management are undertaking a strategy refresh which will include a portfolio-wide examination of the Group's performance, key business drivers and execution across Retail, Hotels and the Pinnacle business, with the clear aim of maximising long term shareholder value.' Commenting on Mervis' departure, Makeig added: 'The board acknowledges Ari's service to Endeavour Group, a company we all agree has an irreplaceable asset base and unique opportunities in the future.' In the same announcement, Endeavour also revealed its preliminary estimates for its full-year results for 2025. It expects its full-year sales for 2025 to reach A$12.1bn. The group booked A$12.3bn in sales in 2024. Statutory net profit after tax is anticipated to sit between A$420m and $425m, which would be a dip on last year, where the company saw profit for the period after tax sit at A$512. Endeavour attributed the predicted 2025 figure to "a number of one-off items" in the period, such as "restructuring and redundancy costs and an impairment" linked to shutting its Prowine bottling site in South Australia. Endeavour's final full-year results for 2025 will be published on 25 August. "Endeavour Group exec chair leaves over board disagreements" was originally created and published by Just Drinks, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Sign in to access your portfolio
Sydney Morning Herald
6 days ago
- Business
- Sydney Morning Herald
ASX closes flat as miners outshine banks; gold stocks rally
Welcome to your five-minute recap of the trading day. The numbers The Australian sharemarket has shrugged off signs of weakness in the world's biggest economy to close flat, as a rally in mining stocks helped offset declines in the major banks and energy companies. The S&P/ASX 200 closed 1.7 points higher on Monday, at 8663.70 points, reversing a fall in the index earlier in the day. Six of the market's 11 sectors fell, and the weakest sectors for the day were energy, financials and industrials. The flat performance followed a slump on Wall Street on Friday, as investors reacted to surprisingly weak figures on US jobs growth and the latest developments in US President Donald Trump's trade war. The Australian dollar was fetching US64.83¢ at 4.50pm AEST. The lifters Miners posted a strong session, buoyed by a higher iron ore price and strength in the gold price. Global mining giant BHP rose 0.9 per cent, Fortescue was up 1.5 per cent and Rio Tinto gained 0.4 per cent. Gold miners performed particularly well after a rise in the price of the precious metal. Evolution Mining jumped 2.6 per cent and Northern Star Resources surged 5.6 per cent. Shares in Endeavour – the company that runs Dan Murphy's and BWS – jumped 3 per cent after executive chairman Ari Mervis suddenly quit his role over 'disagreements with the board' as he edged closer to handing over the keys of the business to incoming chief executive Jayne Hrdlicka. Consumer staple stocks also had a solid day: supermarket giant Woolworths rose 1.3 per cent, and rival Coles lifted 1.7 per cent.
Sky News AU
6 days ago
- Business
- Sky News AU
ASX 200 drops after major wipeout on Wall Street following weak jobs data
The ASX 200 has dropped on Monday after a wipeout on Wall Street, triggered by a softer-than-expected payrolls report. The index dropped 0.25 per cent after about 90 minutes on Monday. Dan Murphy's owner Endeavour Group jumped 3.7 per cent after it was revealed the company's executive chairman Ari Mervis left the company over disagreements with the board. BlueScope has fallen about one per cent as the company has entered into a consortium with several international parties to potentially purchase the Whyalla steelworks. Meanwhile, buy-now-pay-later company Zip Co is down 3.7 per cent, aluminium producer Alcoa Corporation has sunk 4.7 per cent and financial services company Block has dropped 4.4 per cent. The ASX's movement follows news that about 73,000 jobs were added during July in the United States, below the 100,000 expected by economists. This sparked concerns amongst investors who remain on alert for data showing Donald Trump's trade policies are stalling the economy. Wall Street sank on Friday with the Nasdaq sliding 2.2 per cent, the Dow Jones falling 1.2 per cent and the S&P 500 shedding 1.6 per cent. London's FTSE 250 sank 1.2 per cent, Germany's DAX dived 2.7 per cent and the STOXX Europe 600 dived 1.9 per cent on Friday. New Zealand's NZX 50 is flat since trading began on Monday while Japan's Nikkei 225 has dived 2.2 per cent.
West Australian
05-05-2025
- Business
- West Australian
Endeavour Group expects ‘flat to modest' growth for Dan Murphy's, BWS
Pubs and hotels giant Endeavour Group is tipping marginal growth for liquor chains Dan Murphy's and BWS amid ongoing weakness in consumer demand for booze. In a third-quarter trading update released on Monday, Endeavour revealed the strong sales momentum at its pubs was in stark contrast to the performance of its national network of 1722 bottle shops. Retail sales declined 3.1 per cent to $2.3 billion in the 13 weeks to the start of April, while hotels grew 5.1 per cent to $512 million. Total group sales fell 1.7 per cent to $2.8b. The company — which last week appointed former Virgin Airlines boss Jayne Hrdlicka as its new chief executive — expects 'flat to modest' sales growth for its liquor stores for the rest of the fiscal year. 'In Q3 hotel sales improved while off-premise demand remained subdued and our retail business continued to recover from the impact of supply chain disruption,' Endeavour executive chair Ari Mervis said. 'We have made an encouraging start to Q4. In retail we delivered an Easter sales result in line with Easter sales in the previous year and in hotels we continued to see good growth across all drivers — food, bars, gaming and accommodation.' Endeavour said consumer spending activity outside of key social occasions remained relatively subdued, noting there were only a limited number of such events left for the rest of the financial year. While it expects retail trading conditions to gradually improve as inflation moderates and the prospects for interest rate cuts increase, the group warned cost inflation would remain a headwind for the remainder of the financial year. Shares last traded at $4.16. More to come.
Yahoo
30-04-2025
- Business
- Yahoo
Bullish Endeavour Group Insiders Loaded Up On AU$995.2k Of Stock
Usually, when one insider buys stock, it might not be a monumental event. But when multiple insiders are buying like they did in the case of Endeavour Group Limited (ASX:EDV), that sends out a positive message to the company's shareholders. While insider transactions are not the most important thing when it comes to long-term investing, logic dictates you should pay some attention to whether insiders are buying or selling shares. Our free stock report includes 1 warning sign investors should be aware of before investing in Endeavour Group. Read for free now. The Executive Chairman Ari Mervis made the biggest insider purchase in the last 12 months. That single transaction was for AU$641k worth of shares at a price of AU$4.27 each. So it's clear an insider wanted to buy, even at a higher price than the current share price (being AU$4.03). It's very possible they regret the purchase, but it's more likely they are bullish about the company. We always take careful note of the price insiders pay when purchasing shares. Generally speaking, it catches our eye when insiders have purchased shares at above current prices, as it suggests they believed the shares were worth buying, even at a higher price. While Endeavour Group insiders bought shares during the last year, they didn't sell. You can see the insider transactions (by companies and individuals) over the last year depicted in the chart below. If you want to know exactly who sold, for how much, and when, simply click on the graph below! See our latest analysis for Endeavour Group Endeavour Group is not the only stock that insiders are buying. For those who like to find small cap companies at attractive valuations, this free list of growing companies with recent insider purchasing, could be just the ticket. Looking at the total insider shareholdings in a company can help to inform your view of whether they are well aligned with common shareholders. I reckon it's a good sign if insiders own a significant number of shares in the company. Endeavour Group insiders own 15% of the company, currently worth about AU$1.1b based on the recent share price. Most shareholders would be happy to see this sort of insider ownership, since it suggests that management incentives are well aligned with other shareholders. The fact that there have been no Endeavour Group insider transactions recently certainly doesn't bother us. But insiders have shown more of an appetite for the stock, over the last year. It would be great to see more insider buying, but overall it seems like Endeavour Group insiders are reasonably well aligned (owning significant chunk of the company's shares) and optimistic for the future. So while it's helpful to know what insiders are doing in terms of buying or selling, it's also helpful to know the risks that a particular company is facing. Every company has risks, and we've spotted 1 warning sign for Endeavour Group you should know about. If you would prefer to check out another company -- one with potentially superior financials -- then do not miss this free list of interesting companies, that have HIGH return on equity and low debt. For the purposes of this article, insiders are those individuals who report their transactions to the relevant regulatory body. We currently account for open market transactions and private dispositions of direct interests only, but not derivative transactions or indirect interests. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
