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The business week in numbers

AAP logoAAP 2/09/2016

The big and small numbers that grabbed attention - or should have - in the business world over the past week.

MONDAY

35 million - That's how many shares in Crown Resorts billionaire James Packer's private investment company Consolidated Press Holdings sold. The sale, equivalent to 4.8 per cent of Crown stock, reduced CPH's stake to 48.2 per cent. At $12.80 per share, a five per cent discount to the previous day's market, price, the sale generated $448 million.

TUESDAY

$155.4m - Online clothing and sports equipment retailer Surfstitch posted a massive annual loss, more than three times the previous year's. The company also said it's expecting only single-digit sales growth in the current year. Investors savaged the company's stock, wiping almost 40 per cent off its value and pushing it to a record low in the first half hour of trade on the ASX.

WEDNESDAY

$348.6m - Harvey Norman posted one of the retail sector's strongest results, with its annual profit up 30 per cent to $348.6 million, thanks in large part to a strong residential property market, driven by low interest rates.

THURSDAY

Zero - There was no change to the value of retail sales in July, missing expectations of modest growth. Annual growth was 2.7 per cent, half what it was two years earlier. The official estimate of the current month-to-month trend is just over one per cent, a quarter of the preceding decade's average.

FRIDAY

3,446 - That's how many days Guy Debelle spent as Assistant Governor (Financial Markets) at the RBA before finally being told he would be promoted to Deputy Governor on September 18. Current Deputy Governor Philip Lowe will move into the top job, taking over from Glenn Stevens.

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