Dan Murphy’s and BWS take huge profit hit as prices come downWinning a bigger market share has come at a significant cost.2 min read

7NEWS

Aug 24

A strategic plan by Dan Murphy’s to cut liquor prices in order to boost sales is working, but coming at a cost to the business.Endeavour Group, which owns the big box chain as well as the sprawling ...

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Sales at BWS and Dan Murphy’s have since grown for 10 months in a row, hitting a record $10 billion last financial year.However, lower shelf prices have contributed to the hit in profits. Hrdlicka plans to fix that by cutting $300 million in costs from the business over the next three years to boost the bottom line.“There is no doubt that sales are building in retail following our renewed drive on value and price leadership,” Hrdlicka said in a market update on Monday.“There’s a lot of additional work underway in BWS and Dan’s to continue to stoke that fire.”Strong competitionBe the first to know: Add 7NEWS as your preferred news source on GoogleDan’s and BWS continue to face strong competition from challengers including Liquorland, particularly in online sales, with recent promotions offering discounts of up to 20 per cent for orders placed online or via apps. “We haven’t seen 20 per cent off before,” Hrdlicka said, acknowledging deep discounting is hurting the bottom line. “I would hope that we’re not seeing too much more of that going forward but we can’t predict (that).”Endeavour also owns 351 licenced venues across the country, including iconic watering holes like Brisbane’s Breakfast Creek Hotel. It says sales across the hotels and pubs have slowed in recent months as consumers put less money across its bars amid high petrol prices, the housing wealth downturn and the threat of more interest rate rises. However, the pubs did see an uplift in activity thanks to the recent football World Cup. “There’s no doubt that it was a very festive time,” Hrdlicka said.“There was a lot of sport going on.”The group renovated and renewed 38 of its venues and installed 2000 new gaming machines, with more to come in the year ahead.Meanwhile, Endeavour has put the “for sale” sign up on its six company-owned vineyards, which produce its private label wines, as part of moves to offload non-core assets.Aussies set to pay more for beer and spirits under latest booze blow1 min readThe simple appliance changes that could save Australians hundreds2 min read","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":false,"editions":null,"column":"","sentiment":"-1","news_tag":"","news_rank":0,"isVideo":false,"video":null,"symbols":[],"gpt_button":0,"need_auth":false,"need_login_tip":false,"code":"91000000","status":"200"}}}