THE DISTILLERY: Wesfarmers' weakness

The commentariat pick up on a flustered moment for Richard Goyder, while one jotter eyes a Glencore power struggle.

Wesfarmers chief executive Richard Goyder and his executives are doing a splendid job turning Coles around, with Australia’s second-largest supermarket consistently outperforming larger rival Woolworths in terms of sales growth. Then again, Woolies is so much bigger than Coles, Goyder has to achieve solid results in percentage terms to keep up with his competitor’s total growth. Well deserved high-fives have been the Wesfarmers way of late, but Woolworths has expanded its footprint at an astonishing pace while Coles has stood still. Merrill Lynch retail analyst David Errington brought all this up during an analyst briefing yesterday with a question that left Goyder a little flustered and three business commentators with quite an impression.

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