Kmart sales look up as it sidesteps stimulus carnage
THE Coles supermarket division may get all the attention, but Wesfarmers’ other retail businesses are not doing too badly either.
In a quarter when Woolworths’ market-leading discount department store reported a 10.2 per cent fall in comparable sales, the Wesfarmers-owned Kmart reported a gain of 1.1 per cent.
And unlike the supermarket divisions, where Coles would need to lift annual revenue by no less than 48 per cent to match Woolies’ $34.7 billion, Kmart’s $4bn annual sales are comparable to Big W’s $4.3bn. The Australian – Read more…