Wesfarmers Ltd's
(ASX:WES) retail division has risen by 6.5 per cent, with thanks to its Supermarket chain Coles and hardware store Bunnings. Third quarter sales were up at $11.08 billion in the three months to the end of march. Despite natural disasters and the rising costs on the bottom line of the company, the price war between Coles and Woolworths drove sales and is believed to have helped significantly. However, the managing director of Wesfarmers, Richard Goyder, says trading conditions still continue to be affected by significant price deflation. In the first six months of the 2011 financial year, Wesfarmers booked a net profit of $1.2 billion.
