Wesfarmers warns on consumer

Friday 20 March 2020

From WES:

Dills should not have sold Coles. It was a nice counter-cyclical buffer for all downturns (espeically virus-related).

I expect the Bunnigs cash cow to crash. Although folks at home will be tinkering, the collapse in tradie work will be epic.

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About the author

David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.