🦘 ASX & Aldi Hitting Impressive Streaks, Ever Increasing Cost of Retirement, Super Retail Group Shares Surge Despite Legal Claims

G’day everyone!

Here’s what we’ve got in store for you today:

• ASX & Aldi Hitting Impressive Streaks

• Ever Increasing Cost of Retirement

• Super Retails Group Shares Surge Despite Legal Claims

Let’s have a look at the market snapshot before jumping into the news:

ASX Hits a 10-Day Winning Streak: A Slow but Steady Climb

The Australian share market is on a roll, stretching its winning streak to a solid 10 days - the first time it’s done this in nearly a decade!

Thursday marked a small yet significant rise as the S&P/ASX200 added 16.5 points to hit 8,027, while the All Ordinaries bumped up by 24.1 points to 8,258.1.

What’s fueling this upward momentum? According to IG analyst Tony Sycamore, the market's steady climb is more sustainable than a rapid surge based on shaky ground.

The recent boost came after hints that the US Federal Reserve might cut interest rates soon, reassuring investors globally.

• Tech stocks led the charge, with Wisetech Global soaring 7.8% to a new high of $120.39.

• However, it wasn’t all sunshine and roses - Megaport took a nosedive, dropping 21% to a six-month low after it didn’t quite meet financial expectations.

• Super Retail Group had a stellar day, rising 6.2% thanks to robust sales figures.

• Meanwhile, Collins Foods had a rough day, falling 12.9% amid rising operational costs.

• Interestingly, Whitehaven Coal popped 6.3% on positive quarterly earnings and new deals with Japanese steel makers.

As we celebrate the ASX’s longest winning streak since 2015, keep an eye on those earnings reports—they’re making waves, both good and bad.

So buckle up; the Aussie market looks like it's in for an interesting ride!

Aldi’s Streak Continues: Crowned Australia’s Best Supermarket for 7th Year

Aldi proves it’s not just a flash in the pan, clinching the title of Australia’s best supermarket for an impressive seventh consecutive year, according to Canstar Blue’s Supermarket Satisfaction Ratings.

With over 1,000 Yahoo Finance readers chiming in, a whopping 89% felt Coles and Woolworths could step up their game amid rising living costs.

So, it’s no wonder Aldi, known for its wallet-friendly prices, keeps topping the charts.

Christine Seib, Canstar’s editor-in-chief, highlighted the rarity of a brand retaining top customer satisfaction ratings across multiple years and categories.

Aldi maintained five-star scores in overall satisfaction, value for money, store layout, and freshness, solidifying its dominance.

Aussie shopper Ella Victoria illustrated Aldi’s appeal, noting she saved up to $1,000 annually by opting for Aldi over Woolworths.

However, experts like Professor Gary Mortimer remind us there’s a trade-off: fewer brand-name choices.

So what’s Aldi’s secret sauce? It’s a blend of stocking lesser-known brands, minimizing store footprint, and leveraging global buying power - allowing Aldi to buy for 10,000 stores, not just the 600 in Australia.

In short, Aldi’s ability to deliver consistent value without sacrificing quality makes it the unwavering fave among Aussie shoppers. Keep grabbing those bargains, folks!

Retirement's Rising Price Tag Leaves Aussie Seniors Squeezed

Retiring comfortably in Australia just got a whole lot tougher.

Recent data from the Association of Superannuation Funds of Australia (ASFA) shows that a single person needs a whopping $52,085 per year to enjoy their golden years, while couples need at least $73,337 – that's a jump of 3.7% over the past year!

Rising costs across the board are hitting retirees hard.

From skyrocketing food and insurance prices to increasing private health insurance premiums, expenses are stacking up.

Home, vehicle, and private health insurance costs alone spiked by 3.1% in the June quarter.

Even essentials like electricity and food saw notable hikes, with electricity prices shooting up by 6% over the year and fruit and veggies not far behind.

Chris Grice of National Seniors Australia highlights the grim reality: many older Australians are struggling, especially those without significant savings or stuck in the unforgiving rental market.

The existing Age Pension isn't cutting it for everyone, particularly as home ownership rates drop among seniors.

ASFA CEO Mary Delahunty stresses the need for robust retirement planning beyond just superannuation

The stakes are high, with essential services and goods becoming increasingly costly.

For retirees to maintain their well-being and financial security, navigating this complex landscape is crucial.

In a nutshell, retirement in Australia now demands careful planning and budgeting, as costs continue to climb, creating an ever-challenging environment for those enjoying - or trying to enjoy - their post-work lives.

Super Retail Shares Skyrocket Amid Legal Firestorm Over Bullying Claims

Super Retail Group, the owner of brands like Rebel Sport and Supercheap Auto, is making waves, but not just for its impressive market performance.

The retailer's shares hit a record high on Thursday, thanks to unexpectedly strong sales since June. But behind the scenes, there's a legal drama unfolding that’s grabbing just as much attention.

The $3 billion company's former chief legal officer, Rebecca Farrell, has stepped into the Federal Court with some bombshell allegations.

She accuses senior executives and the current chair, Sally Pitkin, of bullying, conflicts of interest, and corporate law breaches—tied to an alleged affair between CEO Anthony Heraghty and former HR boss Jane Kelly.

Justice Michael Lee recently lifted suppression orders on documents Farrell filed, pending an appeal from Super Retail.

The company's response? Complete denial of all allegations.

Despite this internal turmoil, Super Retail closed 6.2% up at $17.70 on Thursday, buoyed by strong like-for-like sales growth of 3% for the start of the financial year.

The court case casts a long shadow, but the market seems to think Super Retail’s financial health is far from in jeopardy.

With record revenue of $3.9 billion and a total cash return to investors exceeding $268 million, the numbers are solid, albeit with a cautious outlook.

Stay tuned as this courtroom saga continues to unravel while investors keep a keen eye on those impressive sales figures!

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