The ASX 200 (INDEXASX: XJO)(^AXJO) is expected to open higher today, the USA’s S&P 500 Index (.INX) fell by 0.45% on Monday.
Australian Dollar ($A) (AUDUSD): 67.34US cents
Dow Jones (DJI): down 0.36%
Oil (WTI): $US52.80 per barrel
Gold: $US1,493 per ounce
ASX Sharemarket News
In ASX sharemarket news, Vita Group Limited (ASX: VTG) has signed an agreement with Vault Intelligence Ltd (ASX: VLT) for the development and sales of Vault Solo subscriptions in Australia.
Vault Solo is a workforce management ecosystem that uses devices (like the Samsung Galaxy watch) to protect and manage workforces whilst also helping with time-saving and productivity tools.
The aim of the partnership is to sell Vault Solo to large enterprises. Vita Group is Vault’s largest and most significant partner in Australia.
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City Chic Collective Ltd (ASX: CCX) has announced this morning that the US bankruptcy has approved City Chic’s acquisition of the e-commerce assets of Avenue Stores for US$16.5.
The acquisition will give the company broader access to the US plus size market. The online sales in the five months from January 2019 to May 2019 was US$27 million. The store closures are expected to impact e-commerce sales, but City Chic expects the deal to add to earnings.
The acquisition meets growth objectives, particularly by expanding into new segments of the plus size market.
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Baby Bunting Group Ltd (ASX: BBN) has provided a trading update at its annual general meeting (AGM).
Its gross profit margin has increased to above 36% whilst comparable store sales growth so far in FY20 has been 3.1%, which was off the back of a strong first quarter in FY19.
The outlook for (pro forma) FY20 net profit is still expected to be $20 million to $22 million.
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