Business
Wesfarmers profit jumps after retail spending spree – NEWS.com.au
Wesfarmers profit jumps after COVID-19 shopping spree
Wesfarmers has booked full-year earnings of more than $2 billion after the Federal Governments COVID-19 stimulus measures boosted retail sales.The 2019-20 net profit was an 8.2 per cent improvement on the previous financial year when it racked up costs for the Coles demerger.
The latest result came after the group took a $525 million pre-tax impairment relating to closing underperforming Target stores and converting some into Kmarts.
The diversified conglomerate’s revenue jumped by more than 1…
-
Noosa News20 hours agoLaidley e-scooter death: Tragic new details after Summah Richards killed in freak accident
-
General21 hours agoMinjee Lee rallies after third-round meltdown to share fifth place at LA Championship
-
General15 hours agoUkraine says Russia has ramped up attacks despite ‘Easter truce’
-
General14 hours agoPope Francis appears Easter Sunday to deliver blessing as recovery continues