Wesfarmers Ltd
(ASX:WES) says its retail sales performance for the year has been solid.
For the 2010 financial year Coles recorded 4.3% growth at $29.8 billion, compared with $28.6 billion for the same time last year.
Wesfarmers posted 9.9% growth in its home improvement and office supplies stores, recording $7.8 billion over the year.
The company says Bunnings sales growth was strong, and Target and Kmart both reported marginally positive sales growth for the year.
Managing Director, Richard Goyder says over the last 12 months retail businesses have reinforced business platforms, leaving Wesfarmers well placed for the 2011 financial year.
Wesfarmers reported a $1.5 billion profit for the year ending 30 June 2009.
