Lifestyle

News on consumer habits, trends, and lifestyle spending.

Lifestyle
Lions tour helps Rugby Australia tackle debt
The British & Irish Lions series this year has allowed Rugby Australia (RA) to become debt-free and focus on making the game sustainable in the long term. RA, the peak body for rugby union in Australia, said an A$80 million (US$52.3 million) loan from private equity firm Pacific Equity Partners (PEP), which was taken out in 2023 to cover a deficit, had been paid off earlier than expected. “Repaying the credit facility ahead of schedule is a significant milestone for the game and reflects the commercial success of the British & Irish Lions series, cost discipline and the efficacy of Rugby Australia’s organisational reset,” Managing Director and Chief Executive Officer Paul Waugh said in a statement. The sporting body’s losses widened to $36.8 million in 2024 from $9.1 million in 2023 despite a 1.5% lift in revenue to $126.3 million as costs, particularly player payments and staff costs, increased, leaving it with a negative equity of $49.8 million. Costs included taking ownership of the Waratahs and ACT Brumbies Super Rugby teams and funding the Melbourne Rebels team in the same competition. But RA believed the deficit was manageable because of the credit facility and strong cash flow expected from the Lions Tour and
Lifestyle
American Eagle Outfitters pops 24.7% post-earnings
American Eagle stocks soared more than 20% following their second-quarter earnings release, with the retailer attributing their success to recent celebrity endorsements. The company smashed Wall Street estimates following its controversial “good jeans” marketing campaign with Euphoria actress Sydney Sweeney and its recent partnership with Taylor Swift’s fiancé, Travis Kelce, just days after the engagement. “The fall season is off to a positive start. Fuelled by stronger product offerings and the success of recent marketing campaigns with Sydney Sweeney and Travis Kelce, we have seen an uptick in customer awareness, engagement and comparable sales,” CEO Jay Schottenstein said in a news release. “We look forward to building on our progress and the continued strength of our iconic brands to drive higher profitability, long-term growth and shareholder value.” According to the company, the Sweeney campaign alongside the Kelce collaboration led to “meaningful improvement with the business” and 700,000 new customers across all channels. This comes in spite of the “Sydney Sweeney has great jeans” slogan, leading some critics on the left to say it was a double entendre and nod to eugenics. Those on the right celebrate the ca
Lifestyle
Wallabies sign Endeavour's Cape Mentelle as wine partner
Rugby Australia has announced a partnership with a premium wine business owned by hotels and alcohol retailer Endeavour Group. Australian rugby union’s governing body said Cape Mentelle would be the official wine partner of national team the Wallabies for the next three years to 2027. This means Cape Mentelle wine will be served at Wallabies events and functions. "We’re thrilled to have Cape Mentelle officially on board with the Wallabies as the official wine partner,” Rugby Australia CEO Phil Waugh said in a media release. “Like Cape Mentelle, the Wallabies, and the Wallaroos, pride themselves on holding the highest of standards and we look forward to raising a glass or two from one of their exceptional wines over the next three years when we mark momentous occasions.” Founded in 1970 and now owned by Endeavour Group’s (ASX: EDV) premium wine subsidiary Paragon Wine Estates, Cape Mentelle has a portfolio of premium wines produced in the Margaret River region of Western Australia. Cape Mentelle replaces the privately-owned Taylor Wines, which had been wine partner since 2021. "Just like the Wallabies, Cape Mentelle embodies teamwork, determination, and a relentless pursuit of excellence. It is this shared spir
Lifestyle
EV maker Nio misses estimates as deliveries slow
Electric vehicle company Nio missed estimates last quarter, as vehicle deliveries slowed in July and August amid China’s price wars. Shanghai-based Nio reported revenue of CN¥19.01 billion (US$2.65 billion, A$4.09 billion), up 9.0% year-over-year but below Visible Alpha estimates of ¥19.91 billion. Its net loss was ¥5.14 billion, 1.0% greater than in 2024’s second quarter and missing estimates of a ¥4.96 billion loss. “The strong market reception of ONVO L90 and NIO All-New ES8 has reinforced our overall sales momentum. Driven by this strong demand, we anticipate total deliveries in the third quarter to range between 87,000 and 91,000, representing a year-on-year growth of 40.7% to 47.1% and setting a new Company record,” said Nio CEO William Bin Li. Total Q2 deliveries were up 25.6% to 72,056, but Nio reported 21,017 deliveries in July and 31,305 in August. In July and August 2024, the company made 20,498 and 20,176 deliveries, respectively. China’s government has pushed EV companies to halt price cuts and constrain production in recent months. Other Chinese EV makers like BYD and Li Auto also reported a decline in deliveries in July, with BYD’s profit dropping for the first time in more than three years. “Starting
Lifestyle
NSW regional galleries spared crisis with $15.4m funding
Regional arts organisations across New South Wales have welcomed A$15.4 million in new state funding that will support 62 groups over the next two years, easing fears of closures following last month’s shock rejections from Create NSW’s four-year grants program. Labor announced last Thursday that Create NSW’s Arts and Cultural Funding Program (ACFP) will distribute $7.5 million to 31 regional organisations, including 10 galleries. The remaining funds will be split between Sydney-based organisations and individual arts projects, supporting almost 1,300 artists and workers. The announcement came after more than half of applicants - 76 of 158 - were rejected for four-year funding in July, leaving many established organisations scrambling to apply for shorter-term support. With regional galleries’ success rate falling below 18%, concern had grown that the state was shifting financial responsibility onto already stretched local councils. Dr Tracey Callinan, chief executive of Regional Arts NSW, said she was “very pleased” with the outcome. “This is a really positive response and one that acknowledges that regional arts has great value, but its own challenges too,” she said. “Not everybody has been funded, but that is

Lifestyle
Supercars rev up broadcasters in $200m deal
Australian touring car racing series Supercars has signed a new broadcasting deal with Foxtel and Seven West Media reported to be worth A$200 million (US$131 million) over four years. Supercars said the agreement meant every event would be broadcast live on Foxtel and its Kayo Sports streaming service, with Seven West keeping free-to-air rights to ‘marquee’ events for its Seven Network and 7Plus streaming service. Supercars described the deal as ‘record-breaking’ without revealing the value, but the Australian Financial Review newspaper put it at $50 million per year over the period 2026 to 2029. "The agreement with Foxtel Group and Seven is not only the biggest in our history, but demonstrates the strength, popularity and future potential of our category," Supercars Chief Executive James Warburton said in a media release. The agreement is a 25% increase on the $200 million broadcast deal covering the 2021-2025 seasons, which equates to $40 million per year, and $150 million ($30 million per year) for the 2015 to 2020 seasons. “It’s certainly a substantial jump,” one analyst said. Foxtel is owned by global sports streaming giant DAZN. Racing Australia Consolidated Enterprises Ltd (RACE), the owner of Supercars
Lifestyle
Star says future still in doubt as losses continue
Star Entertainment cut annual losses by two-thirds in the 2025 financial year (FY25) despite a deterioration in trading conditions but has continued to raise doubts about its outlook. “There remains material uncertainty regarding the Group’s ability to continue as a going concern,” CEO and Managing Director Group Steve McCann said in ASX announcement. The casino and hotels group’s statutory net loss narrowed to A$472 million (US$308.6 million) in FY25 from $1.685 billion in FY24 as revenue dropped by 18.8% to A$1.362 billion. The loss included significant items of -$212.4 million, down from a loss of $1.697 billion in FY24. Source: Star EntertainmentTrading deteriorated materially during FY25 due to regulatory reforms, including mandatory carded play and cash limits at its Sydney casino, its remediation program and loss of market share. Although overall trading deteriorated in FY25, activity stabilised in the second half with revenue broadly consistent in the final two quarters, albeit at depressed levels. July group revenue of $92.1 million and a loss of $7.4 million before interest, tax, depreciation and amortisation were slightly ahead of the fourth quarter monthly average. Previously announced cost savings of
Lifestyle
BYD profits drop during China price wars
BYD’s profit dropped for the first time in more than three years last quarter, amid the Chinese government’s efforts to discourage price cuts on electric vehicles. Net income was down 29.9% year-over-year to CN¥6.36 billion (US$892 million, A$1.36 billion). Revenue was up 14% to ¥200.9 billion. “During the Period, competition in China’s automotive industry intensified to a fever pitch, with industry malpractices such as ‘one-price policy’ and ‘excessive marketing’ emerging which intensified competition, severely disrupted normal business order and hindered the progress of high-quality industrial development,” wrote BYD. "As a leading domestic automaker, the Group actively fulfilled its corporate social responsibility by resolutely upholding a fair and orderly market environment and safeguarding the fundamental interests of consumers. The Group remains committed to achieving long-term sustainable development centered on premiumisation, intelligence and globalisation through technical upgrades, efficiency improvements and economies of scale, contributing to the steady and enduring progress of the automotive industry.” China’s government has repeatedly warned electric vehicle companies to end discounts and slow production
Lifestyle
Gap stock slides on sales miss, flags tariff impact
Shares in Gap (NYSE: GAP) slid 2% in overnight trading after the largest specialty apparel company in the United States missed sales expectations and warned that tariffs would have a greater impact on profits. Sales rose to US$3.73 billion ($3.74 billion expected), up from US$3.72 billion the previous year, while same store sales were up 1%, well short of the 1.9% rise analysts were expecting. While its full-year operating margin is expected to be between 6.7% and 7%, down from 7.4% in the previous year, the retailer also widened the expected tariff hit to between $150 million and $175 million, up from the previously expected $100 million and $150 million. Meanwhile, within its current quarter, the retailer – best known for brands like Old Navy, Athleta, Banana Republic - expects its gross margin to be down between 1.5 and 1.7 percentage points, due to tariff costs. While Gap is working with suppliers, adjusting its sourcing and diversifying its supply chain to offset the tariff impact, the company doesn’t expect the annualisation of tariffs to cause any further declines in operating income in 2026. “As it relates to pricing, we’re making targeted adjustments with pricing, there isn’t anything that we’ve done that