Source: KamCity

Story By: NamNews

Wesfarmers has said its remains “quite cautious” regarding the prospects of the retail industry in the short-term, even as it claimed its Bunnings DIY chain was ready for the new Woolworths-Lowe’s joint venture.

CEO Richard Goyder noted that the trading environment continued to remain subdued as consumers were still focusing on prices. However, he added: “We are fortunate to have a number of turnaround businesses which have performance improvement opportunities within them and our businesses are at the right end of the value chain”.

Goyder also stressed that the group was in no danger from the growing European debt crisis, claiming that the conglomerate could comfortably repay any debt maturing in the coming years from cash flows.

 

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