Original article by Sue Mitchell
The Australian Financial Review – Page: 11 & 14 : 15-Jan-19
Wesfarmers has advised that same-store sales for its Kmart unit fell by 0.6 per cent in the first half of 2018-19. Wesfarmers stated that earnings from its department store division, which includes Kmart, would be down around seven per cent for the half-year. Wesfarmers MD Rob Scott said Kmart’s sales decline could be attributed to a range of factors, including lower demand for womenswear and its decision to no longer sell DVDs.
WESFARMERS LIMITED – ASX WES, KMART AUSTRALIA LIMITED, TARGET AUSTRALIA PTY LTD, DEUTSCHE BANK AG, COSTA GROUP HOLDINGS LIMITED – ASX CGC, MORGAN STANLEY AUSTRALIA LIMITED, KATHMANDU HOLDINGS LIMITED – ASX KMD, QUADRANT ENERGY PTY LTD