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Wesfarmers Sees Non-Cash Charge For Kmart Group Of Up To $480 Mln
Wesfarmers Says While Kmart Remains Profitable, Target Earnings Have Decreased Significantly
Coles Group Notes Wesfarmers Announcement That It Has Sold 5.2% Of Co
Wesfarmers Limited is engaged in various business operations, such as supermarkets, liquor, hotels and convenience stores; home improvement; office supplies, and an industrials division with businesses in chemicals, energy and fertilizers, industrial and safety products and coal. The Company's segments include Home Improvement; Department Stores; Office Works; Industrials, which includes Resources, WIS and WesCEF, and Other. Bunnings is a retailer of home improvement and outdoor living products in Australia and New Zealand. Kmart is a retailer with approximately 210 stores throughout Australia and New Zealand. Target operates a network of over 300 stores and sells a range of products for the contemporary family, including apparel, homewares and general merchandise. Officeworks is a retailer and supplier of office products and solutions for home, business and education. The Company also holds an interest in the Mt Holland lithium project based in Western Australia.
Retail (Home Improvement)
Brookfield Place Twr 2
L 14 123 St Georges Tce
Michael Alfred Chaney
Independent Chairman of the Board
Robert Geoffrey Scott
Chief Executive Officer, Managing Director, Director
Chief Financial Officer
Chief Human Resource Officer
Maya Vanden Driesen
Group General Counsel
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Return on Equity (TTM)
Australian retail giant Wesfarmers Ltd <WES.AX> said it will close or rebrand nearly two-thirds of its Target department stores and take one-off charges totalling up to A$650 million ($426 million) as it reels from the coronavirus fallout.
Australia's Wesfarmers Ltd on Friday said it expects to recognize a non-cash impairment charge in Kmart Group, its low-priced retail chain, of about A$430 million-A$480 million ($282.38 million-$315.22 million) before tax for 2020.
Australia's Wesfarmers Ltd <WES.AX> said on Tuesday that in-store sales fell in recent weeks at both its discount department stores, Kmart, and to a larger extent, Target, as measures to control the coronavirus outbreak kept shoppers indoors.
Australia's Wesfarmers Ltd said on Tuesday that in-store sales had fallen in recent weeks at both its discount department stores, Kmart and to a larger extent, Target, as the coronavirus outbreak kept shoppers indoors.
Australia's Wesfarmers Ltd <WES.AX> on Monday said it would sell a 5.2% stake in Coles Group <COL.AX>, the supermarket chain it spun off in 2018, in a bid to retain a more flexible balance sheet amid uncertainty posed by the coronavirus outbreak.
Australian conglomerate Wesfarmers Ltd on Monday said it would sell a 5.2% stake in Coles Group in a bid to retain a more flexible balance sheet amid uncertainty posed by the coronavirus outbreak.
Australia's Wesfarmers Ltd <WES.AX> defied broader retail headwinds to post a 5.7% rise in first-half profit on Wednesday, helped by demand in its hardware retail business, sending its shares up nearly 4% to a record high.
Australian retail conglomerate Wesfarmers Ltd on Wednesday reported a 5.7% rise in first-half profit, as strong sales at its hardware retail business helped it weather tough consumer spending conditions from the devastating season of bushfires.
Australian shares are poised to rise marginally at the open on Wednesday ahead of corporate results of blue-chip companies, including miner Fortescue Metals Group and retail conglomerate Wesfarmers Ltd . The local share price index futures rose over 0.1%, a 58.7-point discount...
Australia's second largest grocery chain Coles Group Ltd <COL.AX> said it had underpaid some store managers for six years, thrusting it into a wages scandal that has affected several of the country's biggest companies and crimping its half-year profit.
Australia's Wesfarmers Ltd <WES.AX> said on Tuesday it will sell 4.9% of Coles Group <COL.AX>, the supermarket chain it spun off in 2018, suggesting it was a good opportunity to book some profits.
Australia's Wesfarmers Ltd said on Tuesday it will sell 4.9% of Coles Group, the supermarket chain it spun off in 2018.
Australia's Wesfarmers Ltd has delayed its final investment decision on the Mt Holland lithium project by a year to the first quarter of 2021, it said on Thursday, as it focuses on cost-cutting amid weakening prices of the metal.
Australia's Wesfarmers Ltd has delayed its final investment decision on the Mt Holland lithium project by a year to the first quarter of 2021, it said on Thursday, as it focuses on cost-cutting amid ongoing weakness in metal prices.
Australian retail conglomerate Wesfarmers Ltd <WES.AX> said on Tuesday that about 6,000 current and former employees at its industrials and safety business were underpaid about A$15 million ($10 million) since 2010.
Kidman Resources Ltd said on Thursday its shareholders voted in favour of conglomerate Wesfarmers Ltd purchase of the lithium miner for about A$776 million ($524.11 million).
* Shares reverse losses to move into positive territory (Adds managing director's comments, fresh fund manager comment)
Australian conglomerate Wesfarmers Ltd reported a 13.5% rise in annual profit on Tuesday, driven by higher sales in its hardware business, even as the country's spending slowdown hurt the company's discount department stores.
Australian retail-to-chemicals conglomerate Wesfarmers Ltd <WES.AX> said on Thursday it would not pursue its proposal to buy rare earths miner Lynas Corp <LYC.AX>.
Australian retails-to-chemicals conglomerate Wesfarmers Ltd said on Thursday it would not pursue its proposal to buy rare-earths miner Lynas Corp .
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