Bunnings like for like sales increase 6%

Earlier today, Wesfarmers briefed investors on their retail sales performance for their third quarter, ending 31st March 2017.

Total sales for Bunnings Australia & New Zealand for the quarter were $2.8 billion, up 7.7 per cent on the previous corresponding period. Total store sales for the quarter increased 7.4 per cent, while store-on-store growth was 6.0 per cent.

For the financial year to date, total sales increased 8.1 per cent to $8.7 billion. Total store sales grew 8.1 per cent in the year to date8, while store-on-store growth was 6.3 per cent.

The results for the quarter built on the very strong performances achieved in the two prior corresponding periods in the 2016 and 2015 financial years, where total store sales grew 11.5 per cent and 11.8 per cent, respectively.

BANZ Managing Director Michael Schneider said the sales growth achieved was pleasing, particularly given the varying market conditions during the quarter.

“An ongoing focus on delivering our strategic agenda continued to provide positive outcomes,” Mr Schneider said. “We continue to invest strongly to deliver a winning offer to customers”.

During the quarter, one replacement warehouse and one replacement trade centre were opened. A further 17 sites were under construction at the end of March 2017. 

Download the full Wesfarmers release here.

Read about Bunnings UK performance here.

Source: Insight DIY Team 

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