API Chessboard Moves to a Stalemate
Sigma’s attempt to snatch control of API appears to have been thwarted, with rival bidder Wesfarmers exercising its call option over 19.3% API shares to put it in a dominant blocking position.
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ACCC Signs Off on Bunnings-Beaumont Deal
Competition regulator the ACCC has given the greenlight for Wesfarmers’ hardware chain Bunnings to acquire national tile retailer Beaumont Tiles.
Read MoreSigma Leapfrogs Wesfarmers in Race for API
Sigma Healthcare has come over the top of Wesfarmers and made a non-binding cash and share offer for rival chemist Australian Pharmaceutical Industries that seems to have grabbed the lead in the battle.
Read MoreWES – UBS rates the stock as Neutral
Neutral and $62 target retained.
Read MoreWesfarmers Sweetens API Bid
Wesfarmers seems to have won the hearts and minds of the board and major shareholders of Australian Pharmaceutical Industries (API) with a lift in its proposed offer price from $1.38 cash to $1.55 a share.
Read MoreWES – Citi rates the stock as Sell
Citi continues to have a problem with the valuation, hence the Sell rating remains in place. Target price climbs to $49 from $47.
Read MoreChunky Dividend for Wesfarmers Shareholders
Retail giant Wesfarmers has joined the list of companies rewarding their shareholders, announcing $2.3 billion in dividends after a solid financial year which saw profits jump 16%.
Read MoreAPI Knocks Back “Opportunistic” Wesfarmers Bid
Australian Pharmaceutical Industries has told Wesfarmers to go away after rejecting the non-binding $1.38 a share offer as “opportunistic” and not in the best interests of shareholders.
Read MoreWesfarmers’ API Bid Could Put the Sector in Play
Wesfarmers’ surprise $687 million, $1.38 per share bid for Australian Pharmaceutical Industries (API) could very well re-ignite a brawl over the big retailers getting into the business.
Read MoreWES – Credit Suisse rates the stock as Neutral
The broker retains a Neutral rating and lowers the target to $57.23 from $57.32 after a few minor adjustments to chemicals forecasts.
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WES – Credit Suisse rates the stock as Neutral
The broker retains a Neutral rating and raises the target of $57.32 from $57.04.
Read MoreWesfarmers on Target for Profitable Year
Amid the sales surges experienced by Wesfarmers’ operations, Target seems to be heading towards a profitable June 30 year for the first time in quite a while.
Read MoreBunnings Nails It Again For Wesfarmers
The fortunes of Wesfarmers are increasingly tied (and the share price for that matter) to the performance of its Bunnings hardware chain, judging by the latest trading update for the Perth based giant.
Read MoreWES – Credit Suisse rates the stock as Upgrade to Outperform from Neutral
Credit Suisse upgrades forecasts, expecting the boost to household goods expenditure will be longer than previously anticipated. Wesfarmers is also positioned to add value through strategic acquisitions in the industrials and home improvement sectors.
Read MoreWindow Opens On Consumer Trends
Consumers shopped in larger quantities, less frequently and increasingly online during the height of the nationwide lockdowns. The question now is: which trends will persist and which stocks will benefit as restrictions ease?
Read MoreOff-Target Retail Chain Sours Strong Result At Wesfarmers
While its Bunnings and Officeworks chains have had a good pandemic, a write-down on the value of its struggling target chain saw Wesfarmers report lower earnings for the year to June.
Read MoreWES – Credit Suisse rates the stock as Neutral
Credit Suisse expects the company’s retail market position and solid trading through the fourth quarter will support the FY20 results, due on August 20.
Read MoreIs Wesfarmers Heading For A Sales Cliff?
Sales activity at Bunnings and Officeworks has been stunning over the period of pandemic-related restrictions but signals there is very little operating leverage for Wesfarmers going forward.
Read MoreBunnings, Officeworks Star At Wesfarmers While Kmart, Target Disappoint
A second trading update from Wesfarmers in just under three weeks with the company telling the market it has been seeing significant demand growth in its Bunnings and Officeworks businesses as well as online (like so many other retail-based companies).
Read MoreWES – Credit Suisse rates the stock as Neutral
Credit Suisse suggests the restructuring of Target is unlikely to shift investor views regarding Wesfarmers. The company will spend $240-310m on the restructuring.
Read MoreCOVID-19 And The Implications For Dividends
Scott Kelly, Manager of the DNR Capital Australian Equities Income Portfolio, provides an update on his firm’s outlook for dividends in the Australian equity market.
Read MoreWhat Can Wesfarmers Do With Target?
What can Wesfarmers do with its underperforming chain, Target? Brokers suggest the laggard of the group may be in line for a severe reassessment.
Read MoreWesfarmers Set To Shake Up “Unsatisfactory” Target
Wesfarmers says it will fast track its review of struggling department store Target in the wake of a sharp fall in sales through the retailer so far in April.
Read MoreWES – UBS rates the stock as Neutral
UBS cuts forecasts for Wesfarmers by -4-16% as well as updates for the sell-down of the Coles stake.
Read MoreCash Is King As Wesfarmers Sells Down Coles Stake
Wesfarmers has raised $1.060 billion from another sale of part of its stake in Coles Group. Wesfarmers said it had sold 5.2% of Coles at $15.39 a share.
Read MoreMosaic & Star Stand Down Staff, Wesfarmers Shutters Kmart NZ
Major women’s fashionwear retailer Mosaic Brands has become the latest chain operator to shut stores and stand down staff indefinitely. Casino operator, Star Group has also stood down around 90% of its staff of 9,000 while Wesfarmers has shut its Kmart stores in New Zealand as the coronavirus outbreak continues to escalate.
Read MoreWesfarmers Trims Dividend Minus Coles Cash, Target Drags
Wesfarmers shares rose more than 3% yesterday after it reported a moderately encouraging first half result, marred by an underpayments scandal to some staff.
Read MoreWesfarmers Joins Staff Underpayments Club
Retailing conglomerate Wesfarmers has joined Woolworths, Super Auto and Coles (which used to be a part of the conglomerate) in revealing a multi-million dollar underpayment to staff.
Read MoreWES – Credit Suisse rates the stock as Underperform
Wesfarmers is scheduled to report on February 19, and Credit Suisse anticipates a “solid” performance despite some industrials issues. Sales growth at Bunnings is believed to be accelerating and Kmart, despite overall tough conditions for retail, should come out well, assisted by logistics problems in the past.
Read MoreThe Big Boys Are Positioning For EV-Lithium Market To Turn
Spare a thought for Wesfarmers’ boss Robb Scott. To the surprise of no one, shareholders in Scott’s $776 million lithium takeover target, Kidman Resources, voted overwhelming yesterday to accept the $1.90-a-share bid Scott lobbed back on May 2.
Read MoreBunnings, Officeworks Dominate Wesfarmers Result
Investors gave Wesfarmers 2018-19 result a modest reception yesterday even though the company and some media reports tried to paint it as solid.
Read MoreWES – Morgans rates the stock as Hold
Morgans expects a mixed result when the company reports on August 27. FY19 earnings (EBIT) is forecast to be down -34%, largely because of the Coles ((COL)) de-merger.
Read MoreACCC Ticks Wesfarmers Catch Group Buy
The competition regulator has greenlit Wesfarmers’ acquisition of online retailer Catch Group for $230 million as the company attempts to improve its online performance in the face of growing competition from the likes of Amazon.
Read MoreIs Wesfarmers Losing Retail Focus?
It was a tough day for retailers associated with Wesfarmers yesterday. The company revealed up to yet another downgrade for its Kmart-Target mid-level department store chain.
Read MoreWesfarmers Catches New Digital Acquisition For $230m
Wesfarmers has lifted the value of its current spending spree to more than $1 billion with the news yesterday that it was paying $230 million for the Australian online retailer Catch Group Holdings Limited.
Read MoreWesfarmers Moves Closer To Wrapping Up Kidman Resources
Wesfarmers big lithium play seems to have been stitched up, but its ambitions for rare earths group, Lynas Corp remains up in the air.
Read MoreWesfarmers Mounts Takeover Play For Lithium Miner Kidman
First, it tried to grab Lynas, now Wesfarmers has launched a $776 million takeover bid for the lithium miner Kidman Resources, in a deal that may have more chance of taking the owner of Bunnings and Kmart into the future of electric vehicles.
Read MoreWES – Macquarie rates the stock as Outperform
The Australian residential market appears to be stabilising and Macquarie believes Bunnings can continue to outperform as it expands its ranges, rolls out stores and increases the trade component.
Read MoreLynas Lashes Out At “Highly Opportunistic” Wesfarmers
Another episode in the soap opera that is the immediate future of Lynas Corporation, its Malaysian rare earths processing plant and possibly the company’s independence.
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