Bunnings grows in Australia and New Zealand

Bunnings, the Australian chain of DIY stores, achieved sales of AUD 2.659 bn in the first quarter (July to September) of the 2016/2017 financial year in Australia and New Zealand. That is 7.4 per cent more than the corresponding quarter of the previous year, while store-on-store growth was 5.5 per cent. According to the company, the latter part of the quarter had been affected by the stock liquidation activities of the Masters business, with this disruption continuing in the second quarter.
The quarterly report thereby shows growth in New Zealand to be "pleasing".
Sales in Great Britain and Ireland, where Bunnings took over the Homebase chain, were in line with expectations at GBP 320 mio (AUD 554 mio). The quarterly report states that trading continues to be steady. And also that Bunnings has a strong focus within the business on continuing to transition core ranges across to home improvement and garden products. On a like-for-like trading basis across the first quarter, customer participation, as measured by transactions, increased by 8.4 per cent.