Wesfarmers’ Bunnings Australia Overtakes Coles as the Conglomerate’s Top Dog
Wesfarmers reported mixed results for the first half of fiscal 2018. Bunnings in Australia and New Zealand, or BANZ, continued its solid growth trajectory, accompanied by strong operating margins, while supermarket Coles continued to lose market share as it grapples with intense competition from Woolworths and discounter grocers. However, these two core businesses--accounting for roughly two thirds of the group’s operating profits in the half--traded broadly in line with our full-year forecasts ...
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