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Wesfarmers sacrifices short-term profit for long-term growth

2015-02-19 10:16:15| Agriculture - Topix.net

Two months after grocery retailer Coles admitted bullying suppliers, Wesfarmers has made clear it will not back out of a price war with Woolworths and will continue to cut prices to drive longer-term growth. Managing director Richard Goyder said Wesfarmers was prepared to sacrifice short-term profit growth by reducing prices across all its retail businesses - Coles, Bunnings, Kmart, Target and Officeworks - to guarantee long-term sales growth and shareholder returns.

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