A battle ahead for Bunnings expansion

Wesfarmers continues to battle negative sentiment from some investment analysts about its foray into the home improvement market in the United Kingdom. After the Brexit vote last year, one analyst went as far as to say Bunnings’ $705 million acquisition of Homebase was virtually worthless, while other analysts are yet to be convinced that the purchase won’t prove a drag on earnings for the business. David Errington, an investment advisor with Bank of America Merrill Lynch, told clients in mi

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