Kemenys sales and profits down in tough liquor market
In this article (4)
One of Australia’s largest independent liquor retailers, Kemenys, has suffered a drop in sales and profits in its latest financial year and faces an even tougher time this year as it tries to counter the full impact of a Dan Murphy’s superstore owned by Woolworths that opened nearby in a prime eastern Sydney site in mid-2014.
Kemenys, which runs a large retail store in the beachside Sydney suburb of Bondi and has more than 100,000 mail-order and online customers it services from a separate warehouse, is owned by the Kemeny family. The business has been operating since 1960.
It has remained independent in a fiercely competitive liquor retailing market where Woolworths and Coles have been increasingly dominant, even though there was a formal process in 2005 when investment bank Grant Samuel tested the appetite of potential buyers of the business.
Questions & Answers
Q.What is the primary reason for Kemenys' recent decline in sales and profits?
What is the primary reason for Kemenys' recent decline in sales and profits?
Kemenys has seen a drop in sales and profits primarily due to increased competition. A large Dan Murphy's superstore, owned by Woolworths, opened nearby in mid-2014, impacting their market performance.
Q.When was Kemenys established as a business?
When was Kemenys established as a business?
Kemenys has been operating as a business since 1960. It has remained an independent retailer throughout a highly competitive liquor market in Australia.
Q.Has Kemenys always been an independent retailer?
Has Kemenys always been an independent retailer?
Kemenys has always remained independent despite a highly competitive market where Woolworths and Coles are dominant. There was a process in 2005 to test buyer interest, but the business remained family-owned.
Reader pulse
Can independent liquor retailers survive against superstores?
22,743 votes so far