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Wesfarmers Ltd (WES.AX)

WES.AX on Australia Stock Exchange

44.38AUD
22 Sep 2020
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$0.65 (+1.49%)
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Latest Key Developments (Source: Significant Developments)

Wesfarmers Says FY Profit After Tax Attributable From Cont Ops $1,622 Million
Thursday, 20 Aug 2020 

Aug 20 (Reuters) - Wesfarmers Ltd ::FY REVENUE FROM CONTINUING OPERATIONS $30,846 MILLION VERSUS $27,920 MILLION.DECLARES FINAL DIVIDEND OF 77 CENTS PER SECURITY.FY PROFIT AFTER TAX ATTRIBUTABLE FROM CONTINUING OPERATIONS $1,622 MILLION, DOWN 16.4%.STRONG RETAIL SALES GROWTH EXPERIENCED IN H2 2020 FINANCIAL YEAR CONTINUED THROUGH JULY.BUNNINGS AND OFFICEWORKS CONTINUED TO DELIVER "PLEASING GROWTH" AT NATIONAL LEVEL THROUGH AUGUST.STAGE 4 TRADING RESTRICTIONS IN VICTORIA IMPACTED FOOT TRAFFIC TO STORES, PARTICULARLY IN KMART & TARGET.ONLINE SALES INCREASED SIGNIFICANTLY THROUGH JULY & AUGUST ACROSS ALL RETAIL BUSINESSES.LOOKING AHEAD, RETAIL SALES WILL BE IMPACTED BY FURTHER TRADING RESTRICTIONS, REMOVAL OF GOVERNMENT STIMULUS.  Full Article

Wesfarmers Says Financial Year To Date Total Online Sales Across Group Increased 60%
Tuesday, 9 Jun 2020 

June 9 (Reuters) - Wesfarmers Ltd ::ON A FINANCIAL YEAR TO DATE BASIS, TOTAL ONLINE SALES ACROSS GROUP INCREASED 60 PER CENT TO $1.4 BILLION.IN CALENDAR YEAR TO DATE, RETAIL BUSINESSES DELIVERED TOTAL ONLINE SALES GROWTH OF 89 PERCENT.BUNNINGS WILL INCUR COSTS OF ABOUT $70 MILLION IN FY20.IN RECENT WEEKS, SALES MOMENTUM IN KMART AND TARGET HAS IMPROVED.BUNNINGS TOTAL SALES GROWTH 2H20 TO DATE 19.2%.IN KMART, SIGNIFICANT GROWTH IN HOME AND LIVING RANGES RESULTED IN SOME AVAILABILITY ISSUES IN RECENT WEEKS.IN KMART, SIGNIFICANT GROWTH IN HIGH-DEMAND CATEGORIES EXPECTED TO IMPACT SALES IN JUNE.EARNINGS GROWTH IN H2 EXPECTED TO BE MODERATED BY CHANGES IN SALES MIX, CONTINUED INVESTMENT.ADDITIONAL OPERATING COSTS FROM COVID-19, TEMPORARY CLOSURE OF NZ STORES TO HIT KMART EARNINGS IN 2020 FINANCIAL YEAR.AFTER EASING OF TRADING RESTRICTIONS IN NZ & NORTH-WESTERN TASMANIA, RETAIL NETWORKS RETURNED TO FULL OPERATION.BUNNINGS INVESTED ABOUT $20 MILLION IN ADDITIONAL CLEANING, SECURITY, PROTECTIVE EQUIPMENT TO RESPOND TO COVID-19 OVER LAST 3 MONTHS.UNCERTAIN IF HIGHER LEVELS OF SALES GROWTH WILL CONTINUE FOR REMAINDER OF CALENDAR YEAR.  Full Article

Wesfarmers Sees Non-Cash Charge For Kmart Group Of Up To $480 Mln
Friday, 22 May 2020 

May 22 (Reuters) - Wesfarmers Ltd ::ANNOUNCES KMART GROUP UPDATE.SEES 2020 RESTRUCTURING COSTS AND PROVISIONS IN KMART GROUP OF ABOUT $120 MILLION TO $170 MILLION BEFORE TAX.SEES NON-CASH IMPAIRMENT IN KMART GROUP OF APPROXIMATELY $430 TO $480 MILLION BEFORE TAX.1ST PHASE OF TARGET REVIEW FINDS ACTIONS LIKE CONVERSION OF SOME TARGET STORES TO KMART STORES, CLOSURE OF SOME TARGET STORES.REDEPLOYMENT OPPORTUNITIES IN KMART AND OTHER WESFARMERS BUSINESSES WILL MINIMISE EFFECT OF CHANGES ON TARGET TEAM MEMBERS.SEES 2020 NON-CASH IMPAIRMENT IN INDUSTRIAL AND SAFETY DIVISION OF ABOUT $300 MILLION BEFORE TAX.TARGET REVIEW ACTIONS ALSO INCLUDE RESTRUCTURING OF TARGET STORE SUPPORT OFFICE.IN 2021, KMART EXPECTED TO INCUR ONE-OFF NON-OPERATING COSTS OF ABOUT $120 TO $140 MILLION REGARDING CONVERSION OF STORES, STOCK CLEARANCE.ACTIONS EXPECTED TO BE IMPLEMENTED OVER NEXT 12 MONTHS WITH MAJORITY OCCURRING IN CY 2021.IMPAIRMENTS IN TARGET AND INDUSTRIAL AND SAFETY NON-CASH; WILL NOT IMPACT GROUP'S CREDIT RATING, DEBT FACILITIES OR 2020 FINAL DIVIDEND.IDENTIFIED ACTIONS INCLUDE CLOSURE OF BETWEEN 10-25 LARGE FORMAT TARGET STORES AND REMAINING 50 SMALL FORMAT TARGET COUNTRY STORES.CONTINUING ASSESSMENT OF STRATEGIC OPTIONS FOR COMMERCIALLY VIABLE TARGET AND REMAINING STORE NETWORK.SEES 2020 PRE-TAX GAIN OF $290 MILLION ON COLES STAKE SALE; ONE-OFF PRE-TAX GAIN OF $221 MILLION ON REVALUATION OF REMAINING INVESTMENT.  Full Article

Wesfarmers Says While Kmart Remains Profitable, Target Earnings Have Decreased Significantly
Tuesday, 28 Apr 2020 

April 28 (Reuters) - Wesfarmers Ltd ::WHILE KMART REMAINS PROFITABLE, TARGET EARNINGS HAVE DECREASED SIGNIFICANTLY.OVER LAST 2 MONTHS, BUNNINGS & OFFICEWORKS EXPERIENCED SIGNIFICANT DEMAND GROWTH.EXTENDED ITS AVAILABLE COMMITTED DEBT FACILITIES BY ABOUT $2.0 BILLION TO ABOUT $5.3 BILLION.SUSTAINED DECLINE IN SALES MOMENTUM WILL MATERIALLY IMPACT PROFITABILITY OF KMART, TARGET.ACCELERATED ITS PLANS TO IMPROVE FINANCIAL PERFORMANCE OF TARGET.IN KMART & TARGET, SALES GROWTH IN Q3 BROADLY IN LINE WITH LEVELS ACHIEVED IN FIRST HALF OF FY.IN RECENT WEEKS, IN-STORE SALES MOMENTUM HAS MODERATED IN KMART AND HAS DECLINED SIGNIFICANTLY IN TARGET.PLANS INCLUDE REVIEW OF ACTIONS TO IMPROVE SHAREHOLDER RETURNS, ASSESSMENT OF STRATEGIC OPTIONS FOR "COMMERCIALLY VIABLE" TARGET.IN RECENT WEEKS, RETAIL BUSINESSES MADE SIGNIFICANT PROGRESS IN FURTHER ENHANCING RESPECTIVE DIGITAL OFFERS.IN NEW ZEALAND, KMART & SOME BUNNINGS STORES REMAIN CLOSED.  Full Article

Coles Group Notes Wesfarmers Announcement That It Has Sold 5.2% Of Co
Tuesday, 31 Mar 2020 

March 31 (Reuters) - Coles Group Ltd ::COLES GROUP LTD NOTES WESFARMERS ANNOUNCEMENT THAT IT HAS SOLD 5.2% OF CO.DAVID CHEESEWRIGHT TO CONTINUE AS A DIRECTOR OF COLES BOARD, ALTHOUGH HE WILL NO LONGER BE A WESFARMERS NOMINEE.  Full Article

Wesfarmers Ltd Sells 5.2% Of Coles Group
Tuesday, 31 Mar 2020 

March 31 (Reuters) - Wesfarmers Ltd :WESFARMERS SELLS 5.2 PER CENT OF COLES.TRADES EXECUTED FOR SALE OF 5.2% OF ISSUED CAPITAL IN COLES FOR TOTAL PRE-TAX PROCEEDS OF $1,060 MILLION.EXPECTS TO RECOGNISE A PRE-TAX PROFIT ON SALE OF ABOUT $130 MILLION.  Full Article

Wesfarmers Says Kmart's 25 New Zealand Stores Will Be Closed
Wednesday, 25 Mar 2020 

March 25 (Reuters) - Wesfarmers Ltd ::CONFIRMS THAT GROUP WILL PAY ITS PREVIOUSLY DECLARED FULLY-FRANKED INTERIM DIVIDEND.KMART'S 25 NEW ZEALAND STORES WILL BE CLOSED.CONFIRMS GROUP WILL PAY ITS PREVIOUSLY DECLARED FULLY-FRANKED INTERIM DIVIDEND OF $0.75 PER SHARE ON 31 MARCH.INDUSTRIAL AND SAFETY BUSINESSES IN NEW ZEALAND CURRENTLY WORKING WITH GOVERNMENT TO CONFIRM THAT OPERATIONS CAN CONTINUE.  Full Article

Wesfarmers ‍Announces Dividend Investment Plan Allocation Price For 2020 Interim Dividend​
Tuesday, 24 Mar 2020 

March 24 (Reuters) - Wesfarmers Ltd ::ALLOCATION PRICE FOR SHARES TO BE ISSUED THROUGH DIVIDEND INVESTMENT PLAN FOR INTERIM DIVIDEND TO BE PAID IS $37.8725.SHAREHOLDERS REPRESENTING 10.56 % OF SHARES ON ISSUE HAD VALID ELECTION TO PARTICIPATE IN DIVIDEND INVESTMENT PLAN FOR PERIOD.SHARES ARE EXPECTED TO BE ISSUED TO PARTICIPANTS IN DIVIDEND INVESTMENT PLAN ON 31 MARCH.  Full Article

Wesfarmers Says Unable To Provide Estimate Of Impact Of COVID-19 On FY Results
Friday, 20 Mar 2020 

March 20 (Reuters) - Wesfarmers Ltd ::NOT ABLE TO PROVIDE AN ESTIMATE OF IMPACT OF COVID-19 ON WESFARMERS' FULL-YEAR FINANCIAL RESULTS..HAS IN RECENT DAYS BEEN WEAKNESS IN SALES OF DISCRETIONARY PRODUCTS SUCH AS APPAREL, PARTICULARLY IN TARGET.WEAKNESS IN SALES OF DISCRETIONARY PRODUCTS IS EXPECTED TO CONTINUE AND REPRESENTS A RISK TO OUTLOOK FOR RETAIL SALES ACROSS GROUP.DOES NOT CURRENTLY EXPECT SUPPLY CHAIN CONSTRAINTS TO HAVE A MATERIAL IMPACT ON RETAIL TRADING PERFORMANCE.  Full Article

Wesfarmers Says David Baxby To Step Down As Managing Director Of Wesfarmers' Industrials Division
Thursday, 19 Mar 2020 

March 19 (Reuters) - Wesfarmers Ltd ::DAVID BAXBY TO STEP DOWN AS MANAGING DIRECTOR OF WESFARMERS' INDUSTRIALS DIVISION..TIM BULT APPOINTED MANAGING DIRECTOR OF WESFARMERS INDUSTRIAL & SAFETY.  Full Article

UPDATE 2-Australian retailer Wesfarmers' profit beats view as lockdowns spur buying

SYDNEY, Aug 20 Australian retail conglomerate Wesfarmers Ltd posted a better than expected annual profit on Thursday as shoppers stocked up on home improvement and office supplies due to COVID-19 lockdowns.