|Bid||44.61 x 5000|
|Ask||44.62 x 13500|
|Day's range||44.57 - 44.72|
|52-week range||39.52 - 45.60|
|PE ratio (TTM)||17.55|
|Earnings date||21 Feb. 2018|
|Forward dividend & yield||2.07 (6.44%)|
|1y target est||42.55|
Investors looking for an alternative to Telstra Corporation Ltd (ASX:TLS) might want to consider Wesfarmers Ltd (ASX:WES) as the conglomerate owner of top retail brands such as Coles and Bunnings.
Metcash Limited (ASX:MTS) is likely to be crowned the best performing grocery stock for 2017 but there could be more upside for its share price next week.
Richard Goyder has wrapped up his 12 years as chief executive of Wesfarmers, describing the role as "demanding and relentless" as he hands control to Rob Scott. Mr Goyder told the company's annual general meeting that joining Wesfarmers in 1993 was a dream come true for him and his wife Janine. Mr Goyder said he has enjoyed all his roles at Wesfarmers, in particular his time running the group's rural division, known then as Landmark.
Falling sales at Wesfarmers' Bunnings businesses in the UK and Ireland have prompted analysts to voice concerns about the conglomerate's foray into the UK home improvement market. Bunnings, which bought the British Homebase business in February last year, says its UK and Ireland business suffered a 13.8 per cent fall in sales to $457 million during the first quarter of the 2018 financial year. During a results briefing on Wednesday, analysts expressed concerns about the "high risk" move into the UK.
Wesfarmers, the owner of Coles, Bunnings and Kmart, is considering dropping quarterly sales reports with incoming chief executive Rob Scott calling them a distraction. Mr Scott said he was talking to investors and analysts about potentially discontinuing the company's quarterly sales updates, after unveiling on Wednesday an ongoing slowdown in Coles' first-quarter sales. "Investors like the long-term focus and in many ways quarterly sales reporting is a distraction," Mr Scott told reporters on Wednesday.
Supermarket giant Coles has suffered a slowdown in first-quarter sales growth as a rapid fall in the price of fresh produce and competition from a resurgent Woolworths keeps pressure on margins. Wesfarmers says a 2.3 per cent fall in food and liquor prices during the first quarter of 2017/18 weighed on Coles' sales growth, with bumper supplies of fruit and vegetables keeping produce prices down. Coles managing director John Durkan said excluding fresh produce, food and liquor comparable sales were broadly in line with the trend achieved in the 2017 financial year.
Coles supermarket owner Wesfarmers has continued to experience sluggish sales, reporting only a slight lift in first-quarter food and liquor sales. Comparable food and liquor sales grew only 0.4 per cent ...