Wesfarmers reports 3.7% increase in full-year profit to $2.55B, driven by growth in Kmart and Bunnings sales.

Wesfarmers, the West Australian conglomerate owning Kmart and Bunnings, reported a 3.7% increase in profit to $2.55 billion for the full year ending June 30. Kmart Group's earnings grew by 24.6% to $958 million, driven by a 4.4% rise in Kmart's revenue to $11.1 billion. The growth was attributed to budget-conscious consumers seeking value at Kmart and affordable home improvements at Bunnings, along with improvements in product sourcing, design, and digitizing processes at Kmart.

August 29, 2024
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