Officeworks Sales Up 23%, New Push Into Education Market
Australia’s leading office supply and B2b retailer Officeworks has delivered sales growth of 23% as consumers move to working from home and business upgrades employee notebooks.
Reporting today owner Wesfarmers claimed that every-channel delivered strong sales growth both online and in store.
They claimed that increased demand for technology and home office products delivered growth as customers “upgraded their working and learning spaces at home” they also said that there was “solid demand for early learning and art & craft products”.
Revenues for the quarter was $1,523 Billion Vs 2019 revenues of !.231 Billion.
Profits rose 22% to $110M from 82Million.
Online sales grew 37%.
Management said that they achieved strong earnings growth because of a disciplined approach to cost and capital management.
Currently the business is investing in new data analytics capabilities to improve marketing and increase the personalisation of communications with customers
As for the next quarter Officeworks management claim that the outlook remains “uncertain” and that the business is well positioned for the future and that sales and earnings growth is more likely to moderate from March as the business begins to cycle the initial impacts of COVID-19.
ChannelNews understands that the business is expanding their push into the education market.