Coles sales were almost flat both for the quarter and for the year to date, Kmart’s were good and Target’s negative while Bunnings’ numbers were both impressive for BANZ and depressing for BUKI.
BANZ saw Q3 sales of AU$3 billion (+8.9%) and of AU$9.6 billion YTD (+9.6%), with YTD same store sales +8.6% to boot.
But, amid talk of an exit or sell-off, BUKI tanked again with Q3 sales of AU$374 million (–6.5%) and worsening YTD sales of AU$1.24 billion (–12.9%), with YTD same store sales –13.9%.
The fruits of “better execution and improved trading results” from BUKI had been negated by March’s “unusually poor weather” (the impactful “Beast from the East”), according to Bunnings Group MD, Michael Schneider.
During the quarter, eight Bunnings pilot stores opened and seven Homebases closed (three permanently), bringing the BUKI estate to 23 Bunnings and 227 Homebase stores at the end of March.
Note: Bunnings’ NZ specific stats were not broken out this time.