Billabong International is open to takeover offers after shedding 400 jobs and offloading a chunk of Nixon Inc in bid to reverse its fortunes.

Surfwear retailer Billabong has placed its shares in a trading halt amid speculation that it has received a $776m private equity takeover offer.

Domino's Pizza has reported a 23 per cent rise in first-half profits and has upgraded its expectations for earnings growth in 2012.

JB Hi-Fi expects sales to grow in fiscal 2012 as business improves after shoppers suffered "promotional fatigue" during post Christmas sales.

Shoppers are set to enjoy cheaper groceries as Coles entrenches itself in supermarket price wars for the long-term despite tough retail environment