Catch Sales Surge By 68.7%, Officeworks & Bunnings Also Soar
According to Wesfarmers latest trading update, Catch.com.au’s total sales in the second half of FY20 (up to 31st May) grew by 68.7%. This followed Catch’s notable sales growth of 21.4% in H1 FY20.
Catch has been a strong performer for Wesfarmers since its acquisition last August. “Pleasing progress continues in Catch, with strong growth in both in-stock and marketplace segments and ongoing growth in Club Catch subscriptions,” Wesfarmers said.
Wesfarmers’s other retailers have also performed incredibly well during the COVID-19 crisis.
“Significant demand growth has continued in Bunnings and Officeworks as customers continue to spend more time working, learning and relaxing at home,” Wesfarmers stated in its ASX trading update. “As a result, sales growth in the calendar year to date has increased significantly relative to the levels achieved in the first half of the financial year.”
In H2 FY20 (to end May) Bunnings total sales grew by 19.2%, compared to 5.8% in H1. Similarly, Officeworks was up 27.8% in H2 FY20, against a still notable 11.5% in H1.
Overall, Wesfarmers’s total online sales (excluding Catch) expanded by 60% in the financial year to date, reaching $1.4 billion. Catch added another $500 million to this figure.
In this trading update, Wesfarmers also reaffirmed the group’s commitment to investing in the online channels of Bunnings, Officeworks and Catch.
Bunnings is expected to incur costs of $70 million in FY20, partly due to trading restrictions in New Zealand, but also the accelerated roll out of its online offering. Bunnings has also invested $20 million in extra cleaning, security and protective equipment during the COVID-19 pandemic.
These efforts may have contributed to Bunnings becoming Australia’s most trusted brand in Roy Morgan’s latest survey. “Bunnings is, however, the standout in the results. Bunnings keeps innovating and creating new connections with its customers,” said Roy Morgan CEO Michele Levine.