25 October 2017
2018 First Quarter Retail Sales Results
Wesfarmers Limited today announced its retail sales results for the first quarter of the 2018 financial year.
Managing Director Richard Goyder said that the sales performance of the Group’s retail businesses was generally pleasing, in particular the continued strong performances of Bunnings Australia and New Zealand, Kmart and Officeworks.
“Coles’ headline food and liquor sales increased by 1.5 per cent for the quarter as the business continued to invest proactively across all elements of the customer offer,” Mr Goyder said. “Sales growth was achieved despite significant fresh produce deflation during the period, and the business continued to see improvements in key metrics such as transaction growth, unit growth, fresh participation and customer satisfaction.
“Bunnings Australia and New Zealand (BANZ) achieved total sales growth of 11.5 per cent during the quarter, with strong execution against BANZ’s strategic agenda continuing to deliver growth across all market segments.
“Bunnings United Kingdom and Ireland (BUKI) total sales decreased 17.5 per cent (13.8 per cent in local currency terms) as difficult trading conditions persisted for Homebase. The rollout of the Bunnings Warehouse pilot stores continued, with eight pilot stores trading during the quarter, delivering early encouraging results.
“Kmart’s total sales growth of 9.0 per cent built on the very strong performance achieved in the prior corresponding period, with customers responding positively to further investments in price and product ranges made during the quarter. Target’s total sales decreased 6.4 per cent as the business continued to reset its product, price and range.
“Officeworks’ total sales increased 7.8 per cent as the business continued to execute strongly against its ‘every channel’ strategy, with positive sales growth achieved in stores and online.”
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