Total
0
Shares
Wesfarmers (ASX:WES) - CEO, Rob Scott - The Market Herald
CEO, Rob Scott
Source: Perth Now
  • As Victoria enters stage four restrictions, Wesfarmers (WES) has revealed how its stores will operate in the state
  • The company said all of its businesses will continue to operate online
  • Meanwhile, Bunnings and Officeworks franchises will be open to trade and business customers only
  • In the 2020 financial year, Wesfarmers obtained around 17 per cent of retail sales from stores in metropolitan Melbourne
  • Wesfarmers is up 0.8 per cent on the market today and is trading for $46.27 per share

As Victoria enters stage four restrictions Wesfarmers (WES) has revealed how its stores will operate in the state.

Yesterday, the Victorian Government increased measures to stop the spread of COVID-19, which will impact retail trading for six weeks.

In metropolitan Melbourne, all of the group's businesses will be able to continue online operations, through home delivery and contactless click and collect.

Bunnings stores in Melbourne will be able to stay open for trade customers, but will be closed for in-store retail customers. However, its Kmart and Target stores will be closed, but available online.

Like Bunnings, Officeworks will be able to stay open for business customers only, but will be closed for in-store retail customers.

The group's industrial businesses — including Blackwoods, Workwear Group, Coregas, Australian Vinyls and Modwood — will continue to operate within the COVID-19 safe guidelines.

In the 2020 financial year, Wesfarmers obtained around 17 per cent of retail sales from stores in metropolitan Melbourne.

Support for employees

Wesfarmers says it knows how challenging the restricitions will be on team members, suppliers and customers that rely on its businesses. As a result, the company maintains it will support its 30,000 Victorian team members through this difficult time.

"Any team member stood down will receive a support payment equivalent to two weeks of normal rostered hours," the company explained.

Managing Director Rob Scott said that the Group remains committed to supporting the efforts that aim to limit the spread of COVID-19.

“Our businesses are well equipped to further adapt their operations to continue to safely support customers and suppliers through these restrictions, with a focus on supporting business, trades and home delivery, as well as contactless click and collect in many of our Melbourne metropolitan stores," he added.

Wesfarmers is up 0.8 per cent on the market this afternoon and is trading for $46.27 per share at 3:26 pm AEST.


Subscribe


WES by the numbers
More From The Market Herald
Westpac (ASX:WBC) - CEO, Peter King - The Market Herald

" Westpac (ASX:WBC) fined $1.3bn to settle AUSTRAC case

Westpac Banking Corporation (WBC) has agreed to pay $1.3 billion to settle its case with AUSTRAC in the Federal Court of Australia.
Afterpay (ASX:APT) - CEO, Anthony Eisen - The Market Herald

" Afterpay (ASX:APT) shakes up executive team

A new day of trade has brought with it leadership changes at buy now, pay later giant Afterpay (APT).
PolyNovo (ASX:PNV) - CEO, Paul Brennan - The Market Herald

" PolyNovo (ASX:PNV) selects Finnish distributor

Healthcare giant PolyNovo (PNV) has selected Innova Medical Oy to distribute its clinical wound treatment in Finland.
Insurance Australia Group (ASX:IAG) - Incoming CEO & Managing Director, Nick Hawkins - The Market Herald

" Insurance Australia (ASX:IAG) appoints Nick Hawkins as CEO and Managing Director

Insurance Australia (IAG) has appointed Nick Hawkins as CEO and Managing Director, effective November 2.