Since the Perth-based conglomerate Wesfarmers listed in 1984, it has delivered total shareholder returns of nearly 20 per cent per annum.
“The big international retailers, the likes of Amazon, Temu and others... certainly keep us awake at night, but are the ones that seem to have been conveniently forgotten in the recent discussions on retail competition,” he toldBunnings has evaded the glare of cost of living inquiries mounted by the Greens which claim the grocery giants are profiteering at the expense of Australian households.
Wesfarmers’ chemicals, energy and fertiliser business, WesCEF, is targeting first lithium hydroxide production in the June half of 2025. Retiring WesCEF boss Ian Hansen will be succeeded by chief operating officer Aaron Hood. At full production, Covalent Lithium would produce enough lithium hydroxide to enable approximately one million electric vehicles, Wesfarmers said at the opening of the project in March. It is not making money atWesfarmers said on Thursday that lithium pricing was anticipated to remain volatile due to the market’s immaturity and seasonal variations in demand. Given production curtailments, start-up delays and expansion deferments, marginal oversupply was expected in the short term.
Despite the tougher economic backdrop, Mr Scott said there had not been any softening in pet product sales.Kmart Group boss Ian Bailey said on Thursday Anko’s new partnership with US toy giant Mattel in wooden toys would launch across 1000 Walmart stores in the US, with Canada and Central America to follow. Anko is also trialling pet products with hypermarket Carrefour in France.
At retailing giant Kmart, one in five items of clothing sold in Australia are Anko branded. Now, it’s going global: last year Anko launched in Canada with the Hudson Bay Company via a store-in-store concept with discount chain Zellers.