Green leaves in Coles' fridge

Like Woolworths, sales figures for Wesfarmers tell a creditable story. And the relative strength of both company's results may signal the very beginning of a wider retail recovery.

Within the Wesfarmers’ retail sales results released today, and those of Woolworths’ earlier this week, are the first tentative signs that the retail recession might be easing. Either that or the rest of the retail sector is being ravaged by the major chains.

The alternative explanation, of course, is that the uplift in the fourth quarter was an aberration driven by the Gillard government’s "cash splash" and that the sector will sink back into recession-like conditions.

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