Telstra has acquired a big chunk of its retail stores from its former landlord Vita Group for $110 million, officially ending their 26-year partnership.
Telstra partner Entag Group acquires Vita Group s IT enterprise business crn.com.au - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from crn.com.au Daily Mail and Mail on Sunday newspapers.
Vita Group braces for Telstra retail store buyback crn.com.au - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from crn.com.au Daily Mail and Mail on Sunday newspapers.
Telstra takes back retail store ownership in omnichannel customer service play
Telco announces plans to take back all retail store ownership as it reports its H1, 2021 results
Telstra will take back full ownership of all of its Australian retail store network as part of efforts to improve its omnichannel customer game.
The news was announced as the ASX-listed telco presented its first-half FY21 results, showing a more than 10 per cent drop in total income to $12 billion, a 14.7 per cent decline in EBIT to $4.1 billion, and a 2.2 per cent drop in NPAT to $1.1 billion. The dips have been attributed in large part to National Broadband Network (NBN) transition, lower device sales following an ongoing trend of customers holding onto ever-more expensive devices for longer, and lower store traffic from COVID-related restrictions.