Wesfarmers's Bunnings Business Looks Resilient to Macro Headwinds -- Market Talk

Dow Jones

Jun 11

2319 GMT - For Jefferies, one takeaway from Wesfarmers's strategy day was management's confidence in the outlook for the Bunnings home-improvement chain. That's despite a deteriorating macro outlook and recent tax changes affecting the housing industry. Analyst Michael Simotas says management's confidence reflects Bunnings's expansion of certain categories, such as workwear and camping, and growth in its store-network. Bunnings also plans to expand its range of major appliances in the next 12 to 18 months. That could impact JB Hi-Fi, Harvey Norman and especially The Good Guys. "Appliances contribute meaningful sales for U.S. home improvement peers (8-15%)," Jefferies says. "Similar penetration would imply circa A$2 billion sales for Bunnings, but this would not happen quickly." It retains a hold call on Wesfarmers. (david.winning@wsj.com; @dwinningWSJ)

(END) Dow Jones Newswires

June 10, 2026 19:20 ET (23:20 GMT)

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That's despite a deteriorating macro outlook and recent tax changes affecting the housing industry. Analyst Michael Simotas says management's confidence reflects Bunnings's expansion of certain categories, such as workwear and camping, and growth in its store-network. Bunnings also plans to expand its range of major appliances in the next 12 to 18 months. That could impact <a href=\"https://laohu8.com/S/JBHHY\">JB Hi-Fi</a>, <a href=\"https://laohu8.com/S/HNORF\">Harvey Norman</a> and especially The Good Guys. \"Appliances contribute meaningful sales for U.S. home improvement peers (8-15%),\" Jefferies says. \"Similar penetration would imply circa A$2 billion sales for Bunnings, but this would not happen quickly.\" It retains a hold call on Wesfarmers. (david.winning@wsj.com; @dwinningWSJ) \n</p>\n<pre style=\"white-space: pre\">\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  June 10, 2026 19:20 ET (23:20 GMT)\n</p>\n<p>\n  Copyright (c) 2026 Dow Jones &amp; Company, Inc.\n</p>\n</font>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Wesfarmers's Bunnings Business Looks Resilient to Macro Headwinds -- Market Talk</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nWesfarmers's Bunnings Business Looks Resilient to Macro Headwinds -- Market Talk\n</h2>\n\n<h4 class=\"meta\">\n\n\n<div class=\"head\" \">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Dow Jones </p>\n<p class=\"h-time\">2026-06-11 07:20</p>\n</div>\n\n</div>\n\n\n</h4>\n\n</header>\n<article>\n<font class=\"NormalMinus1\" face=\"Arial\">\n<p>\n     2319 GMT - For Jefferies, one takeaway from Wesfarmers's strategy day was management's confidence in the outlook for the Bunnings home-improvement chain. That's despite a deteriorating macro outlook and recent tax changes affecting the housing industry. Analyst Michael Simotas says management's confidence reflects Bunnings's expansion of certain categories, such as workwear and camping, and growth in its store-network. Bunnings also plans to expand its range of major appliances in the next 12 to 18 months. That could impact <a href=\"https://laohu8.com/S/JBHHY\">JB Hi-Fi</a>, <a href=\"https://laohu8.com/S/HNORF\">Harvey Norman</a> and especially The Good Guys. \"Appliances contribute meaningful sales for U.S. home improvement peers (8-15%),\" Jefferies says. \"Similar penetration would imply circa A$2 billion sales for Bunnings, but this would not happen quickly.\" It retains a hold call on Wesfarmers. (david.winning@wsj.com; @dwinningWSJ) \n</p>\n<pre style=\"white-space: pre\">\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  June 10, 2026 19:20 ET (23:20 GMT)\n</p>\n<p>\n  Copyright (c) 2026 Dow Jones &amp; Company, Inc.\n</p>\n</font>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"WES.AU","symbol_name":"WESFARMERS LTD","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2642746954","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2642746954","pubTimestamp":1781133600,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"2319 GMT - For Jefferies, one takeaway from Wesfarmers's strategy day was management's confidence in the outlook for the Bunnings home-improvement chain. That's despite a deteriorating macro outlook and recent tax changes affecting the housing industry. Analyst Michael Simotas says management's confidence reflects Bunnings's expansion of certain categories, such as workwear and camping, and growth in its store-network. Bunnings also plans to expand its range of major appliances in the next 12 to 18 months. That could impact JB Hi-Fi, Harvey Norman and especially The Good Guys. \"Appliances contribute meaningful sales for U.S. home improvement peers ,\" Jefferies says. \"Similar penetration would imply circa A$2 billion sales for Bunnings, but this would not happen quickly.\" It retains a hold call on Wesfarmers. ","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"WES.AU":"WESFARMERS LTD","JBH.AU":"JB HI-FI LTD","WFAFY":"Wesfarmers Ltd.","HVN.AU":"HARVEY NORMAN HOLDINGS LTD","BK7153":"综合零售","BK4220":"综合零售","BK7041":"综合货品商店","BK4114":"综合货品商店","BK7001":"电脑与电子产品零售","BK7511":"ESG概念"},"translate_title":"西农集团的邦宁斯业务看起来能够抵御宏观逆风——市场讨论","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"WES.AU":0.9,"HVN.AU":0.9,"JBH.AU":0.9,"WFAFY":0.9},"content_text":"2319 GMT - For Jefferies, one takeaway from Wesfarmers's strategy day was management's confidence in the outlook for the Bunnings home-improvement chain. That's despite a deteriorating macro outlook and recent tax changes affecting the housing industry. Analyst Michael Simotas says management's confidence reflects Bunnings's expansion of certain categories, such as workwear and camping, and growth in its store-network. Bunnings also plans to expand its range of major appliances in the next 12 to 18 months. That could impact JB Hi-Fi, Harvey Norman and especially The Good Guys. \"Appliances contribute meaningful sales for U.S. home improvement peers (8-15%),\" Jefferies says. \"Similar penetration would imply circa A$2 billion sales for Bunnings, but this would not happen quickly.\" It retains a hold call on Wesfarmers. (david.winning@wsj.com; @dwinningWSJ) \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  June 10, 2026 19:20 ET (23:20 GMT)\n\n\n  Copyright (c) 2026 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":true,"editions":null,"column":"","sentiment":"1","news_tag":"","news_rank":0,"isVideo":false,"video":null,"symbols":[],"gpt_button":0,"need_auth":true,"need_login_tip":false,"code":"91000000","status":"200"}}}