Wesfarmers becomes fourth-biggest retailer in Asia-Pacific(70250)

Wesfarmers one of world s fastest-growing retailers

WESFARMERS five-year growth surge and its acquisition of the Coles Group saw it become the Asia-Pacific's fourth-largest retailer by sales last year.

Wesfarmers was the world's second fastest-growing retailer from 2003 to June 2009, notching up retail sales of $45 billion to become the 28th-biggest retailer, consulting firm Deloitte said in an annual survey of the top 250 retailers.

The company spent almost $20 billion to buy Coles in November 2007, which helped propel its compound annual sales growth rate to 62.7 per cent and saw it jump eight spots in the rankings last year, the firm said.

Deloitte said diversification paid dividends for global retailers last year, with multi-format companies growing sales much faster than their single-format competitors, which tended to be specialty or department store retailers selling discretionary merchandise.

With Coles, Wesfarmers secured the second plank of Australia's grocery duopoly alongside Woolworths and boosted earnings as it added food, liquor, fuel and department stores to its conglomerate of resources, insurance and home improvement units.

Woolworths fell four places to become the world's 26th-largest retailer but retained its spot as the Asia-Pacific's third-biggest retailer with sales of $49.6 billion to June 2009.

The two rival grocers, discount and home improvement stores were the only Australian companies in the world's top 30 retailers, which were dominated by US and European giant superstores.

US-based Wal-Mart Stores and France's Carrefour SA retained first and second place, thanks to their superstore format and global operations.

Wesfarmers becomes fourth-biggest retailer in Asia-Pacific

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