We Feel We Have Quite a Resilient Business, Says Wesfarmers’s CEO

The transcript discusses Australia's economic outlook, focusing on consumer sentiment and the housing market. It highlights the resilience of the Bunnings business despite economic challenges, with a 5% sales growth and 7.9% earnings growth. The strategy includes active portfolio management and divestments to optimize capital allocation. Future opportunities are explored in the industrial sector, with a focus on digital investments. Employment and wage growth are also discussed, noting regional variations and the potential impact of policy uncertainty.

What are the challenges related to wage growth in Australia?

How does the company view the relationship between wage growth and retail spending?

What factors are contributing to the current economic concerns in Australia?