26 October 2016
|First Quarter Sales ($m)||2017||2016||Variance %|
|Food & Liquor1,2||7,850||7,631||2.9|
|Bunnings Australia & New Zealand||2,659||2,476||7.4|
|Bunnings UK & Ireland||554||n.a.||n.a.|
|Refer to Appendix Three for footnotes.|
Wesfarmers Limited today announced its retail sales results for the first quarter of the 2017 financial year.
Managing Director Richard Goyder said that the sales performance of the Group’s retail businesses , with the exception of Target, built on the strong sales growth achieved in the prior corresponding period.
"Coles' headline food and liquor sales increased by 2.9 per cent for the quarter, building on the stron g growth achieved in the previous corresponding period,” Mr Goyder said. "Coles continues to invest in value, service and quality, supported by ongoing efficiency improvements across the business.
"Bunnings Australia and New Zealand achieved total sales growth of 7.4 per cent during the quarter, extending its very strong performance despite an impact from the stock liquidation activities of the Masters business . In the United Kingdom and Ireland, good progress continues to be made to reshape the business, with sales of £320 million ($554 million) for the quarter, in line with expectations.
"Kmart recorded strong sales growth of 11.2 per cent, with a continued focus on lowest prices and the customer experience delivering growth across all categories. Target experienced a challenging quarter, with the accelerated conversion to everyday low pricing and the decision to cease the Toy Sale contributing to a 17.1 per cent decline in sales.
"Officeworks' sales growth of 7.5 per cent reflected strong execution of its 'every channel' strategy, with positive sales growth achieved both in-store and online.
"The Group's retail businesses will continue to invest in customer value, service and store networks, as well as improve product ranges and digital capabilities to deliver sustainable growth over the long-term."