Wesfarmers Ltd has reported a moderate increase in its stock price and a slight rise in net tangible asset backing per share, indicating a positive trend in its financial health.
The Australian retail sector is experiencing a mixed bag of news, with Wesfarmers Ltd’s stock price declining and AMCIL Limited’s net profit falling, but BWP Group’s internalisation transaction showing promise.
Wesfarmers Ltd is facing scrutiny ahead of its earnings season, with investors questioning the company’s performance and key resolutions to be discussed at an upcoming Extraordinary General Meeting.
Wesfarmers is seeking growth and navigating market shifts through strategic moves, including a lease extension for Bunnings and the sale of Coregas, while rival Woolworths closes its MyDeal website.