The retail giant says it saw sales growth at Kmart in all categories for 2023 as stretched consumers flocked to the retailer.
Cash-strapped shoppers flocking to Kmart have helped power profits at retail giant Wesfarmers close to five per cent higher for 2023.
Chief executive Rob Scott said the group’s performance showed the strength of its portfolio and its resilience in the current tough trading environment. The optimistic outlook for Kmart comes after other discount department store retailers flagged tougher conditions this week. Woolworths boss Brad Banducci said the company’s Big W brandas families cut back their spending on discretionary goods like small appliances.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Wesfarmers wages gas supply war on WoodsideWesfarmers says at least one Woodside LNG project is way behind on meeting its obligations to supply WA’s domestic gas market and wants the government to step in.
Read more »
Charges laid over insider trading at Kidman’s Wesfarmers saleThe corporate regulator alleges Duncan Stewart encouraged a family member to buy Kidman shares “while in possession of confidential information.
Read more »
ASX 200 LIVE: Shares to decline; Wesfarmers, Pilbara Minerals, Humm, Accent Group to reportASX to open sharply lower; Wall Street down 1pc on fears of Fed rate surprise; Bond yields and oil up; Humm, Accent Group ahead. Follow updates here.
Read more »
Live: Markets 'twitchy' ahead of US Federal Reserve speech, Wesfarmers boosts profit, ASX to diveA highly anticipated speech by the US Federal Reserve chairman on the state of the US economy has global markets on edge after sending Wall Street lower, while Wesfarmers has reported a near-5 per cent rise in profits. Follow live.
Read more »
Live: Bunnings, Kmart boost profits for Wesfarmers, markets 'twitchy' ahead of US Federal Reserve speech, ASX to diveA highly anticipated speech by the US Federal Reserve chairman on the state of the US economy has global markets on edge after sending Wall Street lower, while Wesfarmers has reported a near-5 per cent rise in profits. Follow live.
Read more »
Heat from 'natural hot tub' helps octopus eggs hatch faster in a deep-sea gardenResearchers discover the heat seeping up from an underwater volcano off the central California coast has halved the hatching time for pearl octopuses.
Read more »