Wesfarmers (ASX:WES) - CEO, Rob Scott
CEO, Rob Scott
Source: Perth Now
Market Herald logo

Subscribe

Be the first with the news that moves the market
  • 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.

WES by the numbers
More From The Market Herald

" Appen (ASX:APX) positioned to weather pandemic, reaffirms guidance

Data annotation and artificial intelligence company Appen (ASX:APX) has today reaffirmed its guidance for the 2020…

" Appen (ASX:APX) beats earnings guidance, outperforms a weak market

Data annotation and artificial intelligence specialist Appen (APX) has soared today after beating its earnings guidance…
Appen (ASX:APX) - CEO, Mark Brayan

" Appen’s (ASX:APX) shares rise on business restructure

Machine intelligence company Appen (ASX:APX) has made some changes to the structure of its business.
The Market Herald Video

" Appen (ASX:APX) receives $1.17b takeover bid from Canadian tech giant

Appen (ASX:APX) has received an unsolicited $1.17 billion takeover bid from Canadian telco giant Telus International.