New Homebase owner sales rise

Australian company Wesfarmers this morning announced its most recent sales figures.

Bunnings sales were up 11 per cent to $2.594 billion.

Wesfarmers' supermarket Coles third-quarter results were up, but sales at Target have declined.

Wesfarmers says food and liquor sales for the three months to March 31 rose by 5.9 per cent to $7.518 billion, from $7.097 billion for the prior corresponding period, while total Coles sales improved 3.2 per cent.

Wesfarmers managing director Richard Goyder said department store sales growth increased by 11.4 per cent, with strong sales growth in Kmart, which made $1.11 billion, "more than offsetting difficult trading in Target".

"Kmart delivered another very good quarter with sales increasing by 17.9 per cent on last year, and growth recorded in all categories.

"While Target’s sales increased by 2.3 per cent on last year, trading momentum weakened during the quarter, with margins significantly affected by high levels of clearance activity late in the period."

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