14 February 2013
Wesfarmers has released its half year results for the period ending 31 December 2012, with EBIT for its retail division increasing 9.4% to AU$1,705m. Coles' earnings grew an impressive 15.1% to AU$755m, with both Bunnings and Kmart also recording solid profit growth. However, costs incurred implementing Target's transformational plan meant the retailers earnings reduced 20.4%. Coles strateg...