Retail frenzy at Bunnings and Kmart drive Wesfarmers profit surge, Target conversions beat expectations – NEWS.com.au

Bunnings and Kmart were the earnings machines behind Wesfarmers surge in half year net profit, while initial results from converted Target stores beat the parent companys expectations, but the shopping frenzy appears to have peaked.The conglomerate posted a near 15 per cent surge in net profit for the six months to December 31 of $1.39bn, with managing director Rob Scott immediately pointing to strong sales and earnings growth across the retail businesses, including Officeworks, which has boomed…

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