WES

Australian conglomerate Wesfarmers (ASX:WES) has increased sales for grocery chain Coles. Wesfarmers chief executive, Richard Goyder, has said market share looks stable. Fourth quarter sales figures has revealed that sales have risen from last years figures by 4.2 percent compared to 1.8 percent with competitor, Woolworths (ASX:WOW) at a 3.4 percent gain.

Australian supermarket rivals, Woolworths (ASX:WOW) and Wesfarmers (ASX:WES) owned Coles are aggressively spending on marketing. The results of the marketing war will be revealed once the two grocery competitors release fourth quarter sales figures in the coming weeks.

Wesfarmers (WES), an Australia based company that concentrates in the resource, retail, chemical and insurance business has posted a 1 percent first-half profit growth after the company’s Target divisions and Kmart went for offsetting $662 million fall in the earnings of its coal business. According to the Wesfarmers chief executive Richard Goyder, the result displayed a clear benefit of having a diversified business plan.

Diversified industrial company Wesfarmers (WES), which is engaged in processing and distribution of gas, coal mining, building materials, retailing of home and garden improvement products, supermarkets, general merchandise and many other businesses have seen itself becoming the fourth biggest retailer of the Asia-Pacific region during 2009 after it went for the acquisition of Coles Group.

Wesfarmers (WES) has warned its shareholders that it may slash its dividend as a result of decrease in the value of its investment due to the financial crises situation all over the world. The companies share price has gone down by 5%. Wesfarmers is the first company to make such an announcement in the market which other companies are reluctant to do. Many companies in United States and Europe have already made such an announcement.

Bendigo Bank was the overall best performing stock taking in a 15.41 percent increase. Among the best performing companies for the past week (week 47 of 2007) on the Australian sharemarket was a mixture of financial services, retail, farming, agribusiness and travelling: Bendigo Bank (BEN), CFS Retail (CFX), Wesfarmers (WES), Timbercorp (TIM), Flight Centre (FLT). These best performing stocks for week 47 managed gains above 3.25 percent by the end of the trading week.

Emeco Holdings (EHL) was the overall worst performing Australian company this week taking in a 18.6 percent decrease in its share price. It was a mixture of mining, support services, retail and steel companies who were among the worst performing stocks for the week 45 of 2007 on the Australian stockmarket: Brambles (BXB), Wasfarmers (WES), BlueScope Steel (BSL), Emeco Holdings (EHL). These worst performing stocks for week 45 recorded losses above 11.8 percent by the end of the trading week.