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- By maintaining prices while competitors raised prices, Wesfarmers’ businesses, which include Bunnings, Kmart, Target, Officeworks, Blackwoods and Coregas, could deliver better value to consumers and gain market share.
www.afr.com/companies/retail/wesfarmers-to-resist-price-rises-20210505-p57oyy
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Will Wesfarmers avoid raising prices?
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The Wesfarmers share price gained 8.6% over the three trading days in August following the results announcement. And the company didn't disappoint with its half-year results either.
Aug 29, 2024 · Across the retail portfolio, the focus remained on keeping prices low, which supported growth in transactions and sales dollars and allowed our businesses to further fractionalize costs.
May 5, 2021 · Wesfarmers will attempt to gain market share across its retail and industrial businesses by absorbing or offsetting rising costs rather than passing them onto consumers.
Feb 17, 2022 · Despite widespread inflationary pressure, Australian conglomerate Wesfarmers is focusing on keeping prices competitive, according to Managing Director Rob Scott.
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May 30, 2023 · Wesfarmers’ winning formula for a softer economy. CEO Rob Scott says the low-price offerings of Bunnings and Kmart will help the conglomerate navigate rising cost pressures and falling...
Aug 24, 2023 · Looking ahead, Wesfarmers said cost pressures in Australia and New Zealand are expected to remain elevated, driven by inflation, labor market constraints and wage cost increases, and domestic...
Feb 16, 2023 · So, it's either seen gross margin contraction in the period – and management referred to the fact that they’ve invested in price to stay competitive – and/or they have seen operating costs grow at a faster rate than sales.
