2232 GMT - Wesfarmers's push to stock more auto products in its Bunnings home-improvement stores poses a modest threat to Super Retail Group, which owns the Supercheap Auto retail network, Jefferies says. It estimates Wesfarmers's expansion into the auto category increases Bunnings's total addressable market by some A$1.5 billion. Bunnings will sell more than 300 new products in at least 300 stores in 2025. Still, analyst Michael Simotas says the range at Bunnings is vastly inferior to specialists, noting it sells oil but no filters, and key brands such as Castrol and Penrite aren't available. That suggests Bunnings is targeting a different customer to Supercheap Auto. "However, if key brands are eventually attracted, threat would escalate," Jefferies says. (david.winning@wsj.com; @dwinningWSJ)
(END) Dow Jones Newswires
March 27, 2025 18:32 ET (22:32 GMT)
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