Wesfarmers steps up a gear as Bunnings returns to double digit sales growth
Wesfarmers steps up a gear as Bunnings returns to double digit sales growth. Coles' third quarter food and liquor sales may have come in slightly below expectations, but the performance of Wesfarmers' Bunnings hardware business was eyebrow-raising. While Coles' food and liquor sales grew 3.9% -- 3.5% on a comparable stores basis -- Bunnings lifted its sales by a staggering 12.3% to just over $2 billion, with comparable stores growth of 7.8%. After a brief flattening of its performance as it prepared for Woolworths entry into the sector, Bunnings has regained both its sales and earnings momentum. (VIEW LINK)
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