Officeworks Revenue Up 4.7pc, Earnings Slide Amid Major Cost Reset

Officeworks lifted first-half revenue 4.7 per cent to $1.84 billion but posted a 21.8 per cent drop in earnings as transformation costs weighed on profit. The retailer is pushing ahead with a major cost-reset program, expanding own-brand ranges, sharpening its in-store and online offer, and investing further in lower prices as it targets long-term growth, stronger omnichannel performance and a rebound in earnings from FY27.