Wesfarmers

Wesfarmers has reported a good-looking set of second-quarter sales numbers, but they obviously weren't quite up to snuff as the shares have opened around 1% lower. The main highlight was Coles, which saw comparable food and liquor sales growth of 3.9% – its fifteenth consecutive quarter of growth and its highest for five quarters. The improvement reflected higher volumes and a reduction in grocery price deflation to 0.9%. Other positives were a 4.2% rise in Bunning's same-store sales, compared to market forecasts of about 3%, and a return to growth for Target (albeit only 0.2% on a comparable basis)....

Wesfarmers has reported a good-looking set of second-quarter sales numbers, but they obviously weren't quite up to snuff as the shares have opened around 1% lower.

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