Is Wesfarmers Heading For A Sales Cliff?
Sales activity at Bunnings and Officeworks has been stunning over the period of pandemic-related restrictions but signals there is very little operating leverage for Wesfarmers going forward.
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Bunnings, Officeworks Star At Wesfarmers While Kmart, Target Disappoint
A second trading update from Wesfarmers in just under three weeks with the company telling the market it has been seeing significant demand growth in its Bunnings and Officeworks businesses as well as online (like so many other retail-based companies).
Read MoreWES – Credit Suisse rates the stock as Neutral
Credit Suisse suggests the restructuring of Target is unlikely to shift investor views regarding Wesfarmers. The company will spend $240-310m on the restructuring.
Read MoreCOVID-19 And The Implications For Dividends
Scott Kelly, Manager of the DNR Capital Australian Equities Income Portfolio, provides an update on his firm’s outlook for dividends in the Australian equity market.
Read MoreWhat Can Wesfarmers Do With Target?
What can Wesfarmers do with its underperforming chain, Target? Brokers suggest the laggard of the group may be in line for a severe reassessment.
Read MoreWesfarmers Set To Shake Up “Unsatisfactory” Target
Wesfarmers says it will fast track its review of struggling department store Target in the wake of a sharp fall in sales through the retailer so far in April.
Read MoreWES – UBS rates the stock as Neutral
UBS cuts forecasts for Wesfarmers by -4-16% as well as updates for the sell-down of the Coles stake.
Read MoreCash Is King As Wesfarmers Sells Down Coles Stake
Wesfarmers has raised $1.060 billion from another sale of part of its stake in Coles Group. Wesfarmers said it had sold 5.2% of Coles at $15.39 a share.
Read MoreMosaic & Star Stand Down Staff, Wesfarmers Shutters Kmart NZ
Major women’s fashionwear retailer Mosaic Brands has become the latest chain operator to shut stores and stand down staff indefinitely. Casino operator, Star Group has also stood down around 90% of its staff of 9,000 while Wesfarmers has shut its Kmart stores in New Zealand as the coronavirus outbreak continues to escalate.
Read MoreWesfarmers Trims Dividend Minus Coles Cash, Target Drags
Wesfarmers shares rose more than 3% yesterday after it reported a moderately encouraging first half result, marred by an underpayments scandal to some staff.
Read MoreWesfarmers Joins Staff Underpayments Club
Retailing conglomerate Wesfarmers has joined Woolworths, Super Auto and Coles (which used to be a part of the conglomerate) in revealing a multi-million dollar underpayment to staff.
Read MoreWES – Credit Suisse rates the stock as Underperform
Wesfarmers is scheduled to report on February 19, and Credit Suisse anticipates a “solid” performance despite some industrials issues. Sales growth at Bunnings is believed to be accelerating and Kmart, despite overall tough conditions for retail, should come out well, assisted by logistics problems in the past.
Read MoreThe Big Boys Are Positioning For EV-Lithium Market To Turn
Spare a thought for Wesfarmers’ boss Robb Scott. To the surprise of no one, shareholders in Scott’s $776 million lithium takeover target, Kidman Resources, voted overwhelming yesterday to accept the $1.90-a-share bid Scott lobbed back on May 2.
Read MoreBunnings, Officeworks Dominate Wesfarmers Result
Investors gave Wesfarmers 2018-19 result a modest reception yesterday even though the company and some media reports tried to paint it as solid.
Read MoreWES – Morgans rates the stock as Hold
Morgans expects a mixed result when the company reports on August 27. FY19 earnings (EBIT) is forecast to be down -34%, largely because of the Coles ((COL)) de-merger.
Read MoreACCC Ticks Wesfarmers Catch Group Buy
The competition regulator has greenlit Wesfarmers’ acquisition of online retailer Catch Group for $230 million as the company attempts to improve its online performance in the face of growing competition from the likes of Amazon.
Read MoreIs Wesfarmers Losing Retail Focus?
It was a tough day for retailers associated with Wesfarmers yesterday. The company revealed up to yet another downgrade for its Kmart-Target mid-level department store chain.
Read MoreWesfarmers Catches New Digital Acquisition For $230m
Wesfarmers has lifted the value of its current spending spree to more than $1 billion with the news yesterday that it was paying $230 million for the Australian online retailer Catch Group Holdings Limited.
Read MoreWesfarmers Moves Closer To Wrapping Up Kidman Resources
Wesfarmers big lithium play seems to have been stitched up, but its ambitions for rare earths group, Lynas Corp remains up in the air.
Read MoreWesfarmers Mounts Takeover Play For Lithium Miner Kidman
First, it tried to grab Lynas, now Wesfarmers has launched a $776 million takeover bid for the lithium miner Kidman Resources, in a deal that may have more chance of taking the owner of Bunnings and Kmart into the future of electric vehicles.
Read MoreWES – Macquarie rates the stock as Outperform
The Australian residential market appears to be stabilising and Macquarie believes Bunnings can continue to outperform as it expands its ranges, rolls out stores and increases the trade component.
Read MoreLynas Lashes Out At “Highly Opportunistic” Wesfarmers
Another episode in the soap opera that is the immediate future of Lynas Corporation, its Malaysian rare earths processing plant and possibly the company’s independence.
Read MoreLynas Spurns Wesfarmers Takeover Bid
Has Wesfarmers been ’saved’ from an unfortunate and possibly expensive diversification and a waste of cash in its $1.5 billion eyeing of troubled rare earths miner, Lynas Corp?
Read MoreWES – UBS rates the stock as Downgrade to Sell from Neutral
Wesfarmers’ result was not as strong as it appeared on the headline, given various one-offs, and underlying earnings only exceeded UBS’ forecast slightly. Bunnings missed the mark and Kmart and industrials earnings declined.
Read MoreSlimmed Down Wesfarmers Rewards Shareholders
As forecast shareholders in shrunken retail group, Wesfarmers’ are to be showered with cash after the company completed a series of restructurings that culminated with the spin-off of the Coles supermarket chain late last year.
Read MoreColes Returns To The ASX After 11-Year Absence
Coles and Wesfarmers separated yesterday without too much fuss on a day when the volatility could have done anything to the shares with Coles shares returning to the ASX at $12.41 after an 11-year absence.
Read MoreLittle Shop Lifts Coles Ahead Of Big Demerger
As expected the Little Shop toy giveaway boosted Coles Supermarkets in the first quarter in what will be its last update owned by Wesfarmers.
Read MoreWesfarmers Readies Coles Demerger
Analysts are expecting Coles to reveal a solid rebound when it reports on its first-quarter sales a week today.
Read MoreWesfarmers Execs Pay For Bunnings UK Misadventure
Wesfarmers’ disastrous hardware adventure into Britain and hefty write-downs in on the value of its still struggling Target department store chain have cost Perth-based group’s executives $17 million in lost share awards in 2017-18 financial year, according to the company’s annual report which was issued on Monday.
Read MoreWesfarmers Result A Tale Of Two Bunnings
Wesfarmers shares hit all time highs in trading yesterday as the company reported its last financial year sales, earnings and financial details ahead of the company changing spin-off of Coles later this year.
Read MoreKmart King To Retire From Wesfarmers
The retirement of Kmart and Target boss, Guy Russo might just have been the most important story from yesterday’s releases from Wesfarmers and not the profit or the fact that Wesfarmers’ shares hit record highs in trading yesterday.
Read MoreWesfarmers Trades In Kmart Tyre & Auto
Ahead of its 2017-18 annual results, due out tomorrow, Wesfarmers has revealed plans to sell its Kmart Tyre and Auto Service (KTAS) business to Germany’s Continental for $350 million.
Read MoreWesfarmers Unveils Coles Demerger Details
Normally an update on a desired move like Wesfarmers spin off of its Coles supermarket business should have helped boost the share price yesterday.
Read MoreCautious Wesfarmers Pours Cold Water On Acquisitions
No, no, no no more takeovers for Wesfarmers. The very clear message at yesterday’s investor day briefing from CEO, Rob Scott couldn’t have been any clearer.
Read MoreColes Improves But Bunnings UK Weighs On Wesfarmers
Wesfarmers shares yesterday edged up after the company delivered a mixed third quarter sales report that confirmed once and for all the adventure in the UK home handyman market through the billion dollar plus purchase of Homebase has been an absolute disaster.
Read MoreIs Wesfarmers Buying Fletcher Building?
Here’s news that will worry some investors.
Read MoreWesfarmers Plots UK Exit
Wesfarmers shares fell 6.4% in the March quarter (and 6.7% from its peak in the quarter of $44.56) as the new management started hacking and slashing at the mistakes of the long reign of former CEO, Richard Goyder.
Read MoreWhy REITs Are Set To Lose From The Coles Demerger
Moody’s credit rating group has given investors in some of the biggest names in shopping centres a timely head up about a possible pitfall from the mooted spin off of Coles by Wesfarmers.
Read MoreMoody’s Ticks Wesfarmers Coles Demerger
Ratings agency Moody’s has joined Standard & Poor’s in Wesfarmers’ short and long term credit ratings a tick, even though the $18 billion spin-off of Coles weakens the conglomerate’s credit metrics.
Read MoreAnalysts React To Wesfarmers Plan To Unwind Coles
Ratings agency S&P likes Wesfarmers news that it plans the spin off of 80% of its Coles supermarkets and liquor businesses to shareholders in the next year.
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