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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