Free Subscription

  • Access 15 free news articles each month

Professional

Try one month for $5
  • Unlimited access to news,insights and opinions
  • Quarterly and weekly magazines
  • Independent research reports and forecasts
  • Quarterly webinars with industry experts
  • Q&A with retail leaders
  • Career advice
  • Exclusive Masterclass access. Part of Retail Week 2021

Outgoing Wesfarmers MD rejects Bunnings UK “black hole”

Outgoing Wesfarmers managing director Richard Goyder has once again defended the conglomerate’s $740 million investment in taking Bunnings to the UK, rejecting an analyst assertion that the business could turn into a “black hole”. Wesfarmers booked declining sales from its UK venture (BUKI) on Wednesday morning, with same-store sales decreasing by 11.9 per cent in the first quarter of FY18 amid continued weakness within the Homebase network. The result added fuel to concerns about Wesfarme