Bunnings grows by eleven per cent, Homebase is being converted

The home improvement division of the Australian Wesfarmers Group recorded sales in the last fiscal year (ended 30 June 2016) of AUD 11.571 bn, 21.4 per cent more than in the previous year. This large increase was achieved due to the acquisition of the Homebase chain in Great Britain, which Wesfarmers took over on 28 February 2016.
In its domestic market in Australia and New Zealand, the main distribution line Bunnings increased sales by 10.9 per cent to AUD 10.6 bn. On a comparable store area, sales were up by 8.1 per cent. In fiscal 2015/2016, Bunnings opened a total of 22 new stores, including 14 in the Warehouse format, seven smaller stores and one wholesale outlet.
In the four months since the takeover, Homebase sales amounted to GBP 512 mio. According to the annual report, the core ranges on offer at Homebase are being quickly reshaped to focus solely on the home improvement and garden market, so as to switch the Homebase stores over to the new concept. Wider product choices and deeper stock holdings are being established, with assistance via existing Bunnings relationships with the world's leading suppliers and by leveraging direct sourcing capabilities. Over GBP 60 mio in inventory investment has been made to support this work. Four to six pilot Bunnings Warehouse stores are to be established in the 2017 financial year.