Wesfarmers flaunts its growth record, hopeful of lithium fortune

Carrie LaFrenzSenior reporter

May 2, 2024 – 11.51am

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Key Points

Since the Perth-based conglomerate Wesfarmers listed in 1984, it has delivered total shareholder returns of nearly 20 per cent per annum.
Kmart’s Anko brand has new partnership with US toy giant Mattel in wooden toys, which will launch across 1000 Walmart stores in the US, with Canada and Central America to follow.
WesCEF chief operating officer Aaron Hood will succeed the retiring WesCEF boss Ian Hansen.

Wesfarmers boss Rob Scott has promised investors reliable growth from retail icons Bunnings and Kmart as they are joined by a new stablemate in lithium, where the industrial conglomerate wants to be a formidable producer.

Mr Scott said retail competition from China’s Temu and US giant Amazon kept him up at night and underlined why divestiture laws being floated by the Greens would “only be bad for consumers.”