Australia Retail

IKEA has vowed to contest an Australian Taxation Office probe alleging the Swedish home furnishings giant owes $171 million in unpaid withholding royalty taxes.

Australia's largest provider of food and accommodation services to remote mining sites is ramping up its offerings as it vies to secure the renewal of a $2.5 billion contract with mining giant Rio Tinto (ASX:RIO).

Cheap as Chips, a discount retailer owned by private equity firm Alceon, has been placed into administration and is poised to be acquired by rival Choice The Discount Store.

Oldfields (ASX:OLH) has announced that CFO Paul Ryan has resigned from his position, effective immediately.

Scentre Group (ASX:SCG) announced that Australian Retirement Trust will acquire a 19.9% stake in Westfield Sydney for $864 million.

Nick Scali (ASX:NCK) has upgraded its sales and profit forecasts for the first half of FY26 after reporting stronger-than-expected trading in Australia and New Zealand.

The Australian Competition and Consumer Commission has cleared Coles’ acquisition of leasehold interests for two new supermarkets in Mount Atkinson and Deanside, Victoria.

OMG Group (ASX: OMG) has reported that half-year group sales for the period to Dec. 31 have surpassed $3 million.