🦘 Unemployment Creeps Up Slightly, Highest Paying Tradie Jobs, Dominos Pizza Announces Big Store Closure

G’day everyone!

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

• Unemployment Creeps Up Slightly

• Highest Paying Tradie Jobs

• Dominos Pizza Announces Big Store Closure

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

Unemployment Rate Ticks Up to 4.1%, But Aussie Job Market Still Adds 50,100 New Jobs!

Australia's unemployment rate nudged up to 4.1% in June, a slight rise from May's 4%.

But don't let that rain on your parade - because the economy didn't just sit still; it actually added a solid 50,100 new jobs.

Breaking it down, we're talking 43,300 full-time positions and 6,800 part-timers.

The labor force flexed a bit more muscle too, with the participation rate inching up by 0.1 percentage points to 66.9%.

The job report's mixed bag had investors on the edge, causing a slight dip in stocks while making the Aussie dollar flex its muscle.

Eyes are now peeled on the Reserve Bank of Australia (RBA) as they gear up for their next meeting on August 5-6.

With fresh data on hand, including these labor stats, they'll decide if it's time to tweak the cash rate.

So, whether you're celebrating the new job gains or sweating the unemployment bump, stay tuned for what the RBA cooks up next!

Top Tradie Treasure: Australia's Highest-Paying Trade Jobs

Dreaming of a high-paying gig without an office cubicle? Look no further than the trades!

According to a recent report, Australia's top 10 highest-paid tradie jobs might just inspire a career switch.

Here’s the lowdown on who’s raking in the big bucks:

1. Construction Managers: Pulling in $190,000 to $210,000, these folks are the kings and queens of the trades.

2. Electricians: Shocking no one, these sparky stars earn $180,000 to $200,000.

3. Plumbers: If you’ve got the pipes, you can pocket $160,000 to $180,000.

4. Mechanical Engineers: Revving up with $150,000 to $170,000.

5. Civil Engineers: Building their fortunes with $140,000 to $160,000.

6. Welders: Fusing together a comfy $130,000 to $150,000.

7. Fitters: Fittingly earning $120,000 to $140,000.

8. Boilermakers: Boiling it down to a cool $110,000 to $130,000.

9. Sheet Metal Workers: Cutting into $100,000 to $120,000.

10. Carpenters: Nailing it with $90,000 to $110,000.

These figures are average salaries and can vary based on location, experience, and job specifics.

So, if you’re handy and ready to work hard, these dollar signs might be calling your name.

Domino's Faces Tough Slice: Closes 100 Stores Amidst Global Restructuring

Domino’s Pizza Enterprises (ASX: DMP) is trimming down, announcing the closure of up to 110 stores across two major markets - Japan and France.

This comes hot on the heels of shedding its Danish operations last year.

As part of this shake-up, Domino’s eyes shutting up to 80 underperforming stores in Japan and 20-30 in France, despite opening a few new locations in more promising areas.

Japan's pizza landscape has been turbulent post-COVID, with consumer habits having shifted.

This has resulted in Domino’s being strapped for marketing cash, prompting a thorough review of their stores.

Consequently, they’ve decided to close low-volume outlets while hiring a new marketing chief to rejuvenate sales.

France is also feeling the heat, with a planned closure of several stores balanced by strategic new openings.

Domino's attempts to apply global strategies with a French twist, aiming to boost operations and customer satisfaction.

Despite these closures, Domino’s is banking on its long-term goals of hitting 7,100 stores globally (~1.9 times its current network).

However, timelines might be a bit wobbly, as the previously set target for 2033 seems out of reach with the slower pace of new openings.

Shares have felt the sting, plummeting to $33.66, a 41% dive since the start of 2024.

Yet, bright spots remain in places like Australia, New Zealand, and Singapore, which are performing positively.

Here’s hoping 2025 brings better toppings for Domino’s bottom line.

Accent Group to Slash Glue Store Locations – What It Means for the Fashion Retailer

Accent Group, the ASX-listed fashion giant behind brands like Platypus, Skechers, and Hype, is making some big changes.

They’ve decided to cut the number of their Glue Store locations in half, exiting 17 underperforming outlets.

This move is set to hit their earnings by $14.2 million but is aimed at steering the brand toward profitability.

Initially, when Accent Group acquired Glue Store for $13 million in 2021, the retail business had 21 stores.

Fast forward to today, and Nude Lucy, one of the brands in the Glue Store umbrella, alone boasts over 30 locations.

Despite cutting down, Glue Store will still have 18 stores, including its digital platform, and is expected to turn a profit this financial year.

Without this negative hit from Glue Store, Accent Group had forecasted a FY24 EBIT (Earnings Before Interest and Taxes) of up to $125.2 million.

However, including the charge, the adjusted EBIT is now pegged at $109-111 million.

Even with this hiccup, the news hasn’t dampened investor spirits. AX1 shares jumped 7.91% to $2.115.

CEO Daniel Agostinelli is optimistic, noting improved trading conditions and strong performances from other brands in their portfolio.

Looks like a leaner, more profitable Glue Store is on the horizon!

You Made It!

If you’ve read all the way up to here, we just wanted to let you know that you’re an absolute legend!

Time to go to work and show off how clued up you are about what’s going on in the business world 💪

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