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Deep pockets not enough to guarantee success

Wesfarmers knew it was buying a renovator’s delight with Homebase, but it now concedes it misjudged the challenges in the UK and Ireland. The challenges confronting Australian retailers are also testing international retailers, including Esprit, Topshop and Topman, Gap, and Toys ‘R’ Us. Wesfarmers was cock-a-hoop when Woolworths Group reached the inevitable conclusion that any chance of making its Masters Home Improvement chain profitable would take too long and exact too high a cost on th

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