Australians loading up on computer monitors and power drills during the coronavirus lockdown have helped Wesfarmers report record sales growth at its Bunnings and Officeworks businesses, with both chains seeing double-digit jumps in revenue over the past five months.
Sales at hardware chain Bunnings have so far surged 19.2 per cent across the second half of the financial year, more than three times the growth seen in the December half, the Perth-based conglomerate told investors on Tuesday morning.Office supplies chain Officeworks' sales soared even more, jumping 27.8 per cent for the second half compared to 11.5 per cent growth in the first.
Discount department store Kmart did not see a similar jump in trade, however, with sales up just 4.1 per cent, down on the 7.6 per cent growth in the prior period. Wesfarmers pinned this decline on low demand for apparel during the shutdown and supply issues affecting some key categories such as homewares.
domp Well there had to be some winners.
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