THE RETAIL BULLETIN - The home of retail news
HOME
Department Stores
Electricals
Entertainment
Fashion
Food & Drink
General Merchandise
Health & Beauty
Home & DIY
Interviews
Newsletter
Property
Shopping Centres & Retail Parks
Sports & Leisure
The Papers
RETAIL INSIGHTS
RETAIL SOLUTIONS
• The HR Summit 2019
• AI in Retail Conference 2019
• Omnichannel Futures Conference 2020
• Future of Customer Engagement 2020
ABOUT
CONTACT
SUBSCRIBE FOR FREE
Homebase owner reports first half loss in UK

Wesfarmers, the group which bought the Homebase chain last year and is rebranding the stores to Bunnings, has reported a loss before interest and tax of… View Article

HOME & DIY

Homebase owner reports first half loss in UK

Wesfarmers, the group which bought the Homebase chain last year and is rebranding the stores to Bunnings, has reported a loss before interest and tax of £28 million in the six months to 31 December.

In a statement, the company said Bunnings “moved at pace” in the UK and Ireland as it implemented phase one of its transformation plan. Profit was impacted by restructuring, including clearance of deleted lines, and the retailer’s move to offering ‘Always Low Prices’.

Richard Goyder, Wesfarmers managing director, said: “BUKI has made very good progress to separate Homebase from its former owner and begin repositioning the business. Pleasingly, the first Bunnings pilot store was successfully opened on 2 February 2017, with additional pilot stores currently under development.”

Across the wider Wesfarmers group, profits rose by 13.2% to A$1.57 billion.

The news comes as Wesfarmers announced that Rob Scott will be the next Wesfarmers managing director, succeeding Goyder who will retire towards the end of 2017. Scott will remain in his current role as head of Wesfarmers’ industrials division until 1 July 2017.

Having initially commenced his career with Wesfarmers in 1993, Scott then worked with EY and Deutsche Bank before rejoining Wesfarmers in 2004.

Wesfarmers chairman Michael Chaney said Scott’s appointment continues the group’s unbroken tradition of appointing its chief executives from within.

He added: “Rob has a proven capability to deliver improved business performance and to lead change through building great teams around him. Importantly, he is deeply grounded in Wesfarmers’ culture and disciplined focus on sustainable shareholder returns.”

Email this article to a friend

You need to be logged in to use this feature.

Please log in here

Subscribe For Retail News

RETAIL EVENTS

The HR Summit 2019
The HR Summit 2019
8 October 2019
Hallam Conference Centre, London W1W 6JJ
Company values, collaboration with employees and driving a major HR transformation to create a truly omnichannel experience, need to be at the heart of the organisation's culture and brand
AI in Retail Conference 2019
AI in Retail Conference 2019
16 October 2019
Cavendish Conference Center, London W1G 9DT
SENIOR-LEVEL FORUM FOR HEADS OF MARKETING, DIGITAL, ECOMMERCE AND CX
Omnichannel Futures Conference 2020
Omnichannel Futures Conference 2020
5 February 2020
Cavendish Conference Centre, London WG1 9DT
A truly omnichannel offering requires an understanding of customer behaviour across all shopping channels and how this should impact your overall business strategy
Future of Customer Engagement 2020
Future of Customer Engagement 2020
10 June 2020
Cavendish Conference Centre, London W1G 9DT
The 11th Annual Retail Customer Engagement Conference