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Bunnings outperforms supermarket giant Coles

Australians love a Bunnings barbeque and apparently, we’re just as keen on the products inside.

Bunnings has outstripped Coles in terms of profits this half year, experiencing a profit of $864 million.

It isn’t all good news for Wesfarmers Group, with their Bunnings venture in the UK falling flat.

CEO of Wesfarmers, Rob Scott, joins Ross Greenwood.

“What we need to do is spend as much time managing the areas of the business that are underperforming… and continuing to invest in the strong areas.”

“We are working very hard to try and reduce the losses and some of the changes we’ve made recently…I think [are] a good step forward.”

Mr Scott says the relatively disappointing profits from Coles is due to a focus on competitive pricing.

“Our prices are very competitive in Coles and we’ve seen that be the case now for at least six months or more.

“We’ve seen some good momentum build through the second quarter for Coles.”

Click PLAY below for the full interview

 

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