Australia’s Wesfarmers cautious on Q4 sales outlook

Australian coal-to-retail conglomerate Wesfarmers Ltd (WES.AX) reported its June quarter outlook after missing broker forecasts for quarterly sales growth from its Coles supermarkets, knocking its shares.

The press release is quoted as saying:

It was the first time Wesfarmers released quarterly sales figures for its 741 Coles stores since it bought the chain in 2007 in Australia’s largest takeover.

Click here to access the entire press release