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30.05 10:27:51

Officeworks reports challenging market - Australia

Australian conglomerate Wesfarmers says that its Officeworks chain, which sells office supplies, saw an increase in quarter sales of 2.5%.

Wesfarmers said market conditions for Officeworks remained challenging with competitive pressure on sales and margins and concerns about consumer sentiment.

Wesfarmers, which also owns Cole supermarkets and the Bunnings home improvements chain, also announced plans to spend A$30 to A$40 million restructuring the business, including providing 60,000 products on the web, according to news.co.au.

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