21 April 2016
|Third Quarter Sales ($m)||2016||2015||Variance %|
|Food & Liquor1,2||7,518||7,097||5.9|
|Total Department Stores||1,783||1,600||11.4|
|Year to Date Sales ($m)||2016||2015||Variance %|
|Food & Liquor7,2||24,175||22,894||5.6|
|Total Department Stores||6,590||6,067||8.6|
|Refer to Appendix Three for footnotes.|
Wesfarmers Limited today announced its retail sales results for the third quarter of the 2016 financial year.
Managing Director Richard Goyder said that the sales performance of the Group’s retail businesses during the quarter was generally pleasing, driven by strong growth in Coles, Bunnings, Kmart and Officeworks.
“Coles’ headline food and liquor sales growth increased by 5.9 per cent during the quarter, including a record number of transactions over the Easter period,” Mr Goyder said. “Coles’ performance reflected further improvements in value, customer service and fresh quality.
“Bunnings achieved total sales growth of 11.0 per cent during the quarter through a solid execution of its strategic agenda, which included ongoing investment in value, service and brand reach.
“Department Stores’ sales growth increased by 11.4 per cent during the quarter, with strong sales growth in Kmart more than offsetting difficult trading in Target. Kmart delivered another very good quarter with sales increasing by 17.9 per cent on last year, and growth recorded in all categories. While Target’s sales increased by 2.3 per cent on last year, trading momentum weakened during the quarter, with margins significantly affected by high levels of clearance activity late in the period.
“Officeworks’ sales growth of 5.6 per cent reflected a pleasing execution of its ‘every channel’ strategy, with positive sales growth achieved both in-store and online.
“Our retail businesses remain focused on implementing strategies aimed at providing customers with stronger value, great service and compelling products through enhanced physical store networks and digital platforms.”