Wesfarmers Outlines Renewal Plan for Coles Liquor
By Ian Neubauer
Wesfarmers has announced a new operating structure underlying its renewal of Coles liquor outlets at an investor briefing held at Sydney’s Westin Hotel yesterday (October 14).
The new structure will see brand development through the reinvigoration of Liquorland’s convenience offer, the reinforcement of Vintage Cellars’ specialist credentials in wine, network optimisation and expansions, and increasing efficiency and lowering costs via an improved IT platform.
Wesfarmers managing director, Richard Goyder, highlighted uncertainty in global financial markets and the need to improve liquor store customer numbers through improved availability, reduction in central costs and a stronger promotional focus.
Wesfarmers acquired Coles in November last year for $18.6 million and has been looking at ways to reinvigorate the retail chain against stifling competition from Woolworths liquor chains.
Coles liquor business comprises 767 liquor stores and 93 hotels across Australia.
Since June 30, it has opened six new outlets and sold off eight, including two hotels.
Wesfarmers shares were trading at $22.57 at 3:00pm today compared to $25.25 seven days ago.
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