Wesfarmers reported overall strong retail sales results for the first quarter of the 2014 financial year with good performances delivered by Coles, Bunnings, Officeworks and Kmart.
Target has potentially swiped one of UK's 'leading ladies' in retail from Marks & Spencer.
Despite several hurdles like a soft economic environment and price deflation in a number of categories, Wesfarmers remained at the top of its game.
Wesfarmers has lifted its net profit by 6.3 per cent for the FY13 due to a strong earnings achieved by its retail portfolio.
Uncertainty for hundreds of jobs at Target remains at large.
Coles' liquor business faced another reproach from one of its longtime critics, but boss Ian McLeod said the division is improving its profitability and will add 200 stores within the next five years.
Wesfarmers has provided a dismal downgrade to Target's earning for the 2013 financial year.
Officeworks has opened its new city concept store in the Sydney CBD as a tenant of the newly completed ANZ Tower.
Coles has entered into a joint venture with ISPT, which will acquire a 75 per cent interest in an initial portfolio of 19 Coles-owned shopping centres.
Wesfarmers reported third quarter growth from all of its retail divisions, with Coles and Bunnings being the top performers.
Target MD Dene Rogers is leaving the company and will be replaced by Stuart Machin.
Wesfarmers has welcomed Jennifer Westacott to the board of directors.
Once again, Coles continues to drive Wesfarmers growth with the company reporting a 9.3 per cent increase in first half earnings.
Wesfarmers has recorded positive sales results for all of its retail businesses in the first half of the financial year.
Wesfarmers' current managing director of Wesfarmers Insurance will take on the role.
Woolworths and Wesfarmers joins Deloitte’s top 20 retailers list.
Dematic has won Wesfarmers Industry & Safety Service Provider of the Year Award.
Wesfarmers' acquisition of Coles in 2007 is paying off for the company as it continues to drive growth for the business.
Under the National Television and Computer Recycling Scheme, a network of computer equipment collection points will be established at Officeworks.
Wesfarmers has announced its first quarter results for the 2013 financial year.
Wesfarmers has offered the co-founder of job search site Seek Paul Bassat the position as director of the company.
Coles has help driven Wesfarmers to a achieving a full-year net profit after tax of $2.1 billion, up 10.6 per cent from the previous year.
Wesfarmers has extended Coles managing director Ian McLeod’s employment contract, which was initially signed for five years.
While sales did remain slow for Coles it did manage to creep above Woolworths in the third quarter results, recording sales growth of 2.7 per cent.
The retail giant reported a net profit after tax of $1.176 billion for the six months to December and excluding non-trading items it was $1.203 billion.
Wesfarmers has come out on top for the tenth quarter straight over rival Woolworths boasting Coles delivered a "record-breaking" Christmas.
Stockland has sold a 7.7 hectare block of land in Melbourne to Wesfarmers' Coles division for an undisclosed amount.
Chief executive Richard Goyder said the company would continue to remain cautious about the retail environment as the company enters trading for the festive season.
Strong sales continue to be achieved by Coles and Bunnings despite consumer sentiment remaining subdued throughout the 2012 first quarter.
Launa Inman has announced her intention to step down as managing director of Target, one of Australia’s biggest retailers and part of the Wesfarmers Group.
The Coles division delivered strong earnings growth of 21.2 per cent for the year, increasing earnings by $204 million to $1,166 million, which saw Wesfarmers achieve NPAT of $1.9 million.
Coles reported a 5.3 per cent growth in food and liquor sales to $6.18 billion for the final quarter of 2010-11, which pushed full year comparable store sales up by 6.3 per cent to $25.02 billion.
Wesfarmer managing director Richard Goyser said the third quarter sales results were generally pleasing, despite that trading conditions were affected by macroeconomic conditions and natural disasters.
According to the 2011 Corporate Reputation Index, compiled by research consultancy AMR, JB Hi-Fi is viewed by Australians as having the best overall reputation based on strong perceptions around its products and innovation.
The Nielsen Company's Top Media Advertisers report found that the industry spent $2.18 billion on advertising in 2010, which is a 7 per cent increase from 2009.
In an environment marked by cautious consumer sentiment, widespread price deflation and unusually wet and cool weather on the east coast of Australia, which negatively affected consumer spending, Wesfarmers has still managed to succeed.
Coles has seen its food and liquor sales for the second quarter rise 6.7 per cent on the previous corresponding period to $7 billion following Wesfarmers' announcement of its second quarter retail sales results.
Woolworths and Wesfarmers are the only locals that made it to Deloitte's Global Powers of Retail 2011 list of 250 largest retailers, which was based on their sales performance for the fiscal year 2010.
Assistant treasurer Bill Shorten believes Australian retailers are exaggerating that the low value threshold on imported goods is responsible for the tough Christmas period.
At the annual meeting, Richard Goyder, Wesfarmers managing director, said the positive result is underlined by Coles food and liquor comparable store sales growth of 6.2 per cent.
Coles has beaten its supermarket rivalry Woolworths with a 6.2 per cent growth in food and liquor sales of $6 billion in the first quarter.
Wesfarmers' home improvement and outdoor living retailer Bunnings will be investing more than $600 million in 18 New South Wales metro and regional sites over the next three years.
After 20 years with the company, David White has announced his resignation from the board of Wesfarmers as non-executive director.
Wesfarmers has announced a net profit of $1,565 billion for the full-year ended 30 June 2010, up 2.8 per cent compared to the previous corresponding period.
Wesfarmers has announced its retail sales results for the fourth quarter and 2010 financial year.
Wesfarmers has announced the appointment of Vanessa Wallace as a new director of the company.
Wesfarmers has announced its retail sales for Q3 of the 2010 financial year. The Coles division reported solid sales growth in the period, while Kmart and Target showed mixed results and lower margins than in the previous corresponding period.
Wesfarmers has appointed Wayne Osborn as a new director of the company.
Wesfarmers has appointed commercial lawyer Paul Meadows as group general counsel. He will oversee all of Wesfarmers' legal matters and will serve as a member of the group's executive committee and leadership group.
Wesfarmers has appointed Diane Smith-Gander as a new director and Archie Norman as an advisor to the board on retail issues.
Wesfarmers Limited has announced a net profit after tax of $1.535 billion for the 2008/09 financial year, an increase of 44 per cent on the $1.063 billion reported for the previous year.
Despite an uncertain global environment, Wesfarmers says Coles sales are on track with total food and liquor sales up 7.6 per cent to $5.3 billion for the quarter to March.