Wesfarmers stock flags softer Bunnings sales at AGM

Wesfarmers' annual general meeting on Thursday, October 29, brought a cautious update on retail trading but kept acquisitions on the strategic agenda. The Perth-based conglomerate said Bunnings sales growth had moderated in recent weeks after a strong start to fiscal 2027, according to The Nightly.

Chief executive Rob Scott attributed the softer retail backdrop to rising inflation, cost-of-living pressure and higher interest rates. He also said some customers could be delaying purchases ahead of Black Friday discounts in November, while cautioning against drawing a broad conclusion from only a few weeks of trading.

Management keeps acquisitions selective

Scott said Wesfarmers' business development team is examining companies under pressure from rising borrowing costs and a tougher economy. He stressed that the group would remain cautious and disciplined, particularly because it already sees growth opportunities across retail, lithium and chemicals.

The comments frame acquisitions as an option rather than a change in capital-allocation policy. Wesfarmers' diversified portfolio and balance sheet could support selective expansion, but the AGM update also underlined the risk that weaker consumer demand may weigh on near-term retail momentum.

Leadership change follows final Chaney AGM

Michael Chaney chaired his final Wesfarmers meeting after 11 years in the role. Ken MacKenzie, the former Amcor chief and immediate past BHP chair, succeeded him when the meeting concluded and becomes the first Wesfarmers chair to live outside Western Australia.

Outside retail, Scott said the chemicals, energy and fertilisers division was positioned for a strong first half, supported by higher ammonia prices, volume expansion and improved spodumene prices from the Covalent joint venture's Mt Holland lithium mine. The lithium hydroxide refinery south of Perth remains in a prolonged ramp-up, with engineering work continuing to address odour-related operating issues.

Current trading remains a separate signal

Wesfarmers stock traded at 48.05 euros on Lang & Schwarz at 09:58 CET on Friday, October 30, 2026. For the real-time quote of Wesfarmers stock, market participants should distinguish the current euro quotation from the Australian trading update.

For broader Australian market coverage, see current S&P/ASX 200 market reports.

More news and analyses on Wesfarmers stock will follow developments in Bunnings, lithium and the group's acquisition pipeline.