Australia's Wesfarmers sees FY19 Kmart core earnings at $356.90 million to $391.55 million [Reuters]
WESFARMERS LTD UNSP/ADR (WFAFY)
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Source: Reuters
Australia's Wesfarmers sees FY19 Kmart core earnings at $356.90 million to $391.55 million - Reuters 1 Min Read (Reuters) - Australia’s Wesfarmers Ltd on Thursday forecast a significant drop in core earnings for Kmart Group, its low-priced retail chain, because of an increase in price competition and cautious consumer sentiment. The company now expects earnings before interest and tax and from continuing operations for Kmart Group for financial year 2019 to be between A$515 million and A$565 million ($356.90 million to $391.55 million), compared with A$631 million posted last year, Wesfarmers said in a statement. (This story corrects earnings comparison figure to A$631 million, not A$618 million in 2nd paragraph). Reporting by Shriya Ramakrishnan in Bengaluru; editing by Grant McCool All quotes delayed a minimum of 15 minutes. See here for a complete list of exchanges and delays. Š 2019 Reuters. All Rights Reserved. Australia's Wesfarmers sees FY19 Kmart core earnings at $35
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