Officeworks looks to bigger stores as it eyes $55b market

 In Australia, NewZealand
Officeworks’ cavernous stores may become even larger as the office supplies category-killer adds new products and services such as drones and 3D printing, and expands its existing range.
Officeworks managing director Mark Ward said his biggest problem is not finding new sources of growth, but choosing which growth opportunities to pursue – and finding room to accommodate an ever-expanding range.
While the core office supplies market is worth around $11 billion a year and has been flat or in decline for several years, Officeworks has racked up 4.6 per cent compound annual sales growth and 10.4 per cent annual earnings growth over the last six years, emerging as one of the strongest performers in Wesfarmers’ retail stable. Sydney Morning Herald – Read more…

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