Australian shoppers’ enduring love for Bunnings has helped drive parent company Wesfarmers’ sales 3.1 per cent higher to $24.2 billion for the first half of the 2026 financial year.
The ASX-listed retail juggernaut, which also operates Officeworks and Priceline, notched a 9.1 per cent profit uptick to $1.6 billion during the period.
Bunnings’ sales grew 4 per cent to nearly $10.7 billion over the six-month period, while Kmart Group’s revenue gained 3.2 per cent to $6.4 billion. Target, which is part of the Kmart Group, was a drag on the result, with lower-than-expected clothing sales.
“Bunnings and Kmart Group’s everyday low prices and leading offers continued to support sales and earnings growth,” said Wesfarmers chief executive Rob Scott.
Wesfarmers chief executive Rob Scott.Louise Kennerley
However, investors have punished it for coming below analyst expectations, sending the $96.6 billion company’s share price down 3.4 per cent in mid-morning trading.
“While Bunnings’ comparable sales trends improved, Kmart Group softened and may be a focal point,” said MST Marquee lead consumer analyst Craig Woolford.
Wesfarmer’s health division, which includes Priceline and a new beauty retailer, Atomica, grew 8.4 per cent to almost $3.3 billion. Its industrial and safety division gained 1.3 per cent to $869 million.
Meanwhile, Wesfarmers’ energy, chemicals and fertilisers business went backwards by 3.2 per cent.