SYDNEY, June 9, 2026, 20:01 AEST
- Wesfarmers finished at A$80.17, gaining 1.57%. The stock outperformed the weaker ASX 200.
- Investors want more on Bunnings, Kmart and cost control at Wednesday’s strategy briefing.
- Margin pressure and weak consumer confidence are still seen as the main risks.
Wesfarmers shares traded higher on Tuesday while the broader Australian market stayed weaker. Investors set up ahead of the conglomerate’s strategy briefing, with interest focusing on Bunnings and its possible expansion.
The stock last traded at A$80.17 on the ASX, gaining A$1.239, or 1.57%. The S&P/ASX 200 slipped 20.9 points, or 0.24%, to close at 8,604.20. It was the first session back after the King’s Birthday holiday closed the market on Monday.
Wesfarmers lines up its Strategy Briefing Day for June 10. Investors are set to press for updates on Bunnings, Kmart Group, Officeworks, health, and industrial assets. The briefing comes after a mixed year for Australian household spending.
Blackwoods and Workwear Group are set to shift into Bunnings starting July 1, the company said this month. The move is designed to help Bunnings go after more trade and small-business customers. “Unlock growth in the small and medium sized customer segments,” Chief Financial Officer Anthony Gianotti said. Capital Brief
Wesfarmers said it will fold in financials from Blackwoods and Workwear under Bunnings starting in the first half of fiscal 2027. The company isn’t forecasting major one-off costs from the switch and plans to give investors more details with its full-year results in August.
Wednesday’s briefing isn’t routine. Bunnings is already a key part of the story, and Kmart has supported Wesfarmers’ earnings as consumers shift to cheaper options. Wesfarmers posted a 9.3% increase in half-year net profit to A$1.6 billion in February, beating expectations, but the stock fell at the time on worries over uneven sales in the second half.
Weak consumer sentiment lingered this month. The Westpac-Melbourne Institute Consumer Sentiment Index dropped 2.9% to 80.6 in June, down from 83 in May. Any figure under 100 means pessimists outweigh optimists. Westpac’s Matthew Hassan said consumers are still “deeply pessimistic.” Westpac IQ
NAB’s latest business survey showed confidence picking up 10 points in May to minus 14, but conditions steady at 3 points, still under the long-run average. NAB economist Gareth Spence said the move in confidence came off “a very low base,” and warned “it’s still weak,” with margin pressure possibly sticking around. NAB News
Retailers propped up the market on Tuesday, as Woolworths and Coles booked gains, according to media reports, but the index still slipped with miners in the red. That mix is key for Wesfarmers—it’s not a pure retailer, though much of its business still depends on store visits, spending, and keeping prices low enough to protect margins.
There’s a risk the Bunnings changes won’t deliver as fast as investors hope, or that slower housing turnover and stressed households hit demand for hardware, apparel and high-priced goods. Rising labour, rent, energy and freight costs could also offset efficiency gains from moving industrial and safety into Bunnings.
For now, the stock move signals investors are looking for more answers. Next up is proof from Wesfarmers that bigger Bunnings, Kmart’s value pitch, and savings across the group can balance out a consumer who is still keeping spending tight.
