Mixed results for Wesfarmers subsidiaries.

 

Officeworks has reported an 11.9 increase in sales for the 2020 half-year to $1.2 billion with earnings up 3.9 per cent to $79 million.

 

The Wesfarmers subsidiary said strong growth was recorded in stores and online, assisted by the early launch of its back-to-school program.

 

The company said it would continue with an on-going focus on price, range and service, coupled with further growth in the B2B segment.

 

The company said it would continue with the roll-out of Geeks2U in stores and online.

 

Bad year for Blackwoods

 

Wesfarmers-owned Blackwoods had a “disappointing” half-year, according to its latest report card with revenue down 2.1 per cent to $858 million over the prior period.

 

Blackwoods’ revenue declined as sales growth from strategic customers and the Western Australian region was offset by declines in other segments.

 

During the period, a new regional leadership structure was implemented at Blackwoods.

 

Former CEO Peter Kelly, who left the company in December last year, is understood to have joined  Winc Australia/NZ as CEO with an announcement to made in the next few days.