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Kmart same-store sales edge up

Wed, 11 Jul 2018

BUSINESSDESK: Australian-owned Kmart says its customers are responding to its low price strategy, which it will continue.

Kmart reported total sales in Australia and New Zealand of $A956 million in the 13 weeks ending September 23, up 3.1% on the previous year. Same-store sales rose 2.2%.

"This is the 11th period in succession of solid comparable growth in transactions and units for Kmart as customers respond positively to its market leading pricing strategy and improved merchandise offer,"  Wesfarmers managing director Richard Goyder says. 

Kmart managing director Guy Russo says customers are responding to lower prices on everyday items.

"The Kmart team is fully committed to providing the lowest possible prices for Australian and New Zealand families," he says.

During the quarter it opened two stores across Australasia and refurbished three stores.

Wesfarmers also owns home improvement chain Bunnings, which reported a 5.1% increase in total sales in Australia and New Zealand in the first quarter. On a same-store basis, sales rose 2.5%.

"Sales growth was recorded in both customer and commercial segments despite subdued housing market conditions," Mr Goyder says.

Bunnings is investing in price, service quality and its store network.

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Kmart same-store sales edge up