Wesfarmers boss Rob Scott has disclosed a challenging outlook for several of the group's businesses while also detailing an alarming rise in retail crime and threats to staff.
Wesfarmers will make a $1.7 billion capital return to shareholders after reporting a strong lift in net profit, helped by proceeds from four major asset sales.
Karratha is one step closer to getting a $45 million hardware and retail centre, including a 7,600 square metre-Bunnings warehouse, after a panel's approval.
Wesfarmers plans to acquire 15 Bunnings properties currently owned by a special purpose investment trust and in the process will record a one-off profit of up to $130 million.
Perth-based BWP Trust has recorded a $53.2 million net profit to December 31 2023, which included $4.2 million in unrealised losses in fair value of investment properties.
Bunnings warehouses landlord BWP Trust has flagged a merger with Newmark Property in a $250 million deal set to create an 84-asset portfolio worth $3.5 billion.
A West Perth arts precinct, dubbed by locals as the 'Pickle District', is expected to be demolished after an assessment panel approved a five-storey Bunnings to be built on the site.
A proposal for a five-storey development in West Perth has been given a thumbs up from the City of Vincent, despite more than 300 objections received during public consultation.
Lithium Australia's wholly owned subsidiary Envirostream has bolstered a partnership with an arm of consumer electronics dynamo LG to recycle over 250 tonnes of lithium-ion batteries. Under the agreement the company will deliver spent cells to the recycler's facilities in Melbourne where the devices will be stripped, processed and treated before being repurposed into new energy storage solutions.
Wesfarmers boss Rob Scott has announced a “solid” full-year profit, and expressed concern about labour shortages and cost uncertainty affecting new investments, but is positive about next week's jobs summit.
Wesfarmers says roughly 34,000 trading days across its stores were affected by pandemic restrictions, resulting in a 14 per cent profit fall and a leaner dividend.
Hardware giant Bunnings will leave its Subiaco home of 30 years in order to build a new $28 million store in Jolimont after the plans were unanimously approved.
Hardware giant Bunnings' plan to relocate from Subiaco to Jolimont is another step closer, after City of Subiaco planning officers recommended council endorse the $28 million proposal.
Wesfarmers' retail businesses have buoyed the group over the past four months, with online sales from Bunnings and Officeworks soaring as consumers spend more time at home.
Wesfarmers says it is seeing significant demand growth in its Bunnings and Officeworks businesses as customers spend more time at home, amid coronavirus restrictions.
Wesfarmers has outlined plans to halve Target's 284-store network and slash jobs after a review found financial performance unsustainable at the troubled Target business.
Wesfarmers has accelerated a review into its underperforming Target business as coronavirus lockdown measures hammer sales and spell a likely earnings decline.
Wesfarmers has disclosed that nearly every part of its business has been affected by COVID-19, with Bunnings and Officeworks doing better while Target is suffering.
Wesfarmers has sold $1.1 billion of Coles shares, reducing its holdings of the supermarket chain to 10 per cent, while revealing $24 million of payroll problems during its half-yearly results released today.
What Christmas gave to Australian retailers, the bushfires are taking away, but there could be worse to come for shopkeepers and shopping centre owners when the latest international trends wash up here.
Gerard Matera is helping turn positive sentiment around Aboriginal reconciliation in the business community into genuine change through indigenous-owned building company Marawar.
Less than a week after Bunnings admitted to underpaying workers due to payroll error, a second Wesfarmers division has said it discovered a payroll mistake, which has left around 6,000 workers underpaid to a total of $15 million.
Bunnings has signed a heads of agreement with M/Group, under which Bunnings will relocate from its existing Albany premises to over 14,000 square metres of new space located at MGroup's Chester Pass Mall in the coastal town.
Property group BWP Trust has reported a 7 per cent fall in full-year profit but will still pay shareholders a special dividend, after selling four properties vacated by Bunnings for about $72 million.
ANALYSIS: As many retailers struggle to deal with the internet revolution, Wesfarmers is undertaking two significant experiments in managing the disruptive influence of online trading to bricks-and-mortar businesses.
Perth-based conglomerate Wesfarmers has sold its stake in the Bengalla coal mine in NSW, continuing a major reshaping of its portfolio after the sale last year of another coal mine and the planned spin-off of its Coles business.
Wesfarmers has sold its struggling Homebase business for a nominal sum, with managing director Rob Scott confirming the UK hardware company has cost the conglomerate about $1.3 billion.
