27 April 2017
2017 Third Quarter Retail Sales Results
Wesfarmers Limited today announced its retail sales results for the third quarter of the 2017 financial year.
Managing Director Richard Goyder said the sales performance of the Group’s retail businesses was generally pleasing given the later timing of Easter in the 2017 financial year, with most businesses building on the strong growth achieved in the prior corresponding period.
“Coles’ headline food and liquor sales increased by 1.2 per cent during the quarter, with the business investing more significantly in the customer offer.
“Bunnings Australia and New Zealand achieved total sales growth of 7.7 per cent during the quarter, building on the strong growth achieved in prior periods through the continued solid execution of its strategic agenda. In the United Kingdom and Ireland, further progress has been made on transition, separation and integration activities following the Homebase acquisition. Following the successful launch of the first Bunnings pilot store in February 2017, the second pilot store was opened in Hatfield Road, St Albans on 12 April 2017.
“Kmart’s total sales increased 2.5 per cent, extending the very strong performance achieved in the prior corresponding period, with further price investments made during the period. Target continued to progress its transition to everyday low prices, recording a decline in total sales of 18.1 per cent during the quarter.
“Officeworks’ strong sales growth of 9.0 per cent was driven by the sound execution of its ‘every channel’ strategy, with positive sales growth achieved in stores and online.”
View the full announcement including appendices