SYDNEY, June 27, 2026, 02:04 AEST
- Wesfarmers (ASX:WES) closed at A$90.74 on Friday, rising 1.42% for the session and gaining 5.78% for the week. The S&P/ASX 200 (INDEXASX:XJO) slipped 0.73% over the week.
- Household spending in May was up 1.3%, with services leading at a 2.6% rise. Goods spending barely moved, rising 0.1%.
- May building approvals arrive July 3, and could be the next direct macro read on Bunnings demand. Wesfarmers will post its 2026 full-year result on Aug. 27.
Wesfarmers Limited (ASX:WES) heads into next week with a chart that stands out among large caps in Australia. The stock gained for five days in a row, closing Friday at A$90.74. The S&P/ASX 200 (INDEXASX:XJO) dropped 0.73% this week.
Wesfarmers added about A$5.7 billion in equity value over five days, as shares climbed A$4.98 from the prior Friday close. The gain was based on roughly 1.14 billion shares on issue. As of Friday, Google Finance listed Wesfarmers’ market cap near A$103 billion.
Retail data splits investors. Household spending in Australia rose 1.3% in May, recovering from a 1.1% drop in April, according to the Australian Bureau of Statistics. Reuters put analyst forecasts at just a 0.5% gain.
IG market analyst Tony Sycamore said Thursday’s household spending numbers were “much stronger rebound than anticipated” and pointed to demand that is “hardier than feared for now.” IG
The goods numbers weren’t great for a retail-heavy stock. Household spending on goods edged up just 0.1% in May. Services jumped 2.6%. Discretionary spending rose 2.1%, though the ABS said that was mostly from travel and catering services, not a broader pick-up in goods.
Wesfarmers is in focus as the rally has been pushed by strength in its key retail brands like Bunnings and Kmart. Clothing and footwear spending climbed 2.7%, though the ABS said discounts and sales drove the gains. Spending on furnishings and household equipment—closer to Bunnings’ footprint—was up 0.8%.
Wesfarmers (ASX:WES) posted a first-half net profit after tax of A$1.603 billion, rising 9.3% with revenue of A$24.212 billion, up 3.1%. The February numbers give investors a reason to stick with the stock. Managing Director Rob Scott pointed to “strong earnings contributions” from Bunnings, Kmart Group, and WesCEF as drivers behind the profit lift.
No late-week filing from the company to move the stock. On the Wesfarmers ASX announcements page, the most recent items are the June 10 strategy briefing, materials from the June 9 strategy briefing, a June 5 director interest notice, and a June 2 Industrial & Safety update.
ABS May building approvals land July 3, giving the market fresh data to size up demand tied to Bunnings. That release could move views on housing repair, renovation, and trade. Wesfarmers’ earnings aren’t expected for another two months—full-year results and briefing are slated for Aug. 27.
