Wesfarmers boss warns of heavy lockdown tolls as company profits slide

closing around 75 stores and converting another 92 into Kmarts as it tries to reduce the discount chain's "unsustainable" cost base.

Taking into account Wesfarmers' $3.1 billion gain from the Coles demerger and other asset sales, which occurred in the prior financial year and had massively inflated last year's profit, statutory net income fell 69.2 per cent. Revenue for the Kmart Group, which includes Kmart, Target and online division Catch, rose 7.2 per cent to $9.2 billion, though earnings plummeted 22 per cent to $422 million due to higher operating costs.

converting into kmarts . . . seriously . . . where everything is the same brand . . . like shopping in soviet era Russia . . . its horrible

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'We're a trans-Tasman company': A2 stresses New Zealand stripes amid China stoushA2 Milk boss Geoffrey Babidge hopes the company's New Zealand heritage and close China ties will allow it to avoid any fallout from the Australia-China trade row | DarrenGrayRural DarrenGrayRural What a mess Scomo has got this Nation into, with its nonsensical 'all the way with the US of A' cold war with our major trading partner. Whitlam got off to a flying start with his far sighted recognition of China, and Scomo has almost blown it up! We now have to hide behind NZ!! DarrenGrayRural So A2 has China ties.....well that's now off the shopping list....Do not support China in any way. DarrenGrayRural Fingers crossed but NZ is a member to the 5 eyes..
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