By Patrick Avenell
SYDNEY, NSW: A dramatic improvement in sales at Bunnings stores is the dominant feature of today’s Wesfarmers full year sales report to the Australian Securities Exchange. Bunnings’ sales increase, when read as a percentage, is more than twice any other facet of Wesfarmers’ business.
In the 12 months to 30 June 2010, sales in Wesfarmers’ Home Improvement division, which is comprised of 271 Bunnings-branded warehouses, smaller format and trade centre stores, increased by 10.4 per cent.
In real money terms, Bunnings sales increased by $602 million. This was by far the biggest increase across Wesfarmers’ cache of retail categories, which includes Food and Liquor, Convenience, Target and Kmart.
These two last stores, which both sell consumer electronics products, in addition to clothes, outdoor appliances and fast moving consumer goods, both experienced slight growth. Target grew 0.9 per cent and Kmart grew 0.4 per cent. Food and Liquor was up 5.6 per cent, whilst Convenience was down 0.4 per cent.
By Patrick Avenell
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