Bunnings’ British and Ireland investment sinks deeper into trouble
Hardware giant Bunnings’ attempt to invade the British Isles has sunk deeper into trouble, with its first-quarter sales in the UK and Ireland falling more than 13 per cent.
Retail conglomerate Wesfarmers on Wednesday said its Bunnings United Kingdom and Ireland division had sales of ￡276 million ($457 million) in the first three months of the financial year, down from ￡320 million a year earlier.
Bunnings bought the Homebase business in January 2016. It is in the process of converting Homebase to the Bunnings brand and format, with eight pilot Bunnings stores now trading alongside its remaining 244 Homebase outlets.
"While the performance of Homebase is disappointing, we continue to be encouraged by the performance of the Bunnings pilots," Bunnings group managing director Michael Schneider said. Sydney Morning Herlad – Read more…