0434 GMT - An investigative report airing on Australia's ABC television channel is unlikely to have a material negative impact on Wesfarmers' key hardware chain Bunnings, say Jefferies analysts Michael Simotas and Naveed Fazal Bawa. Media attention on profits at grocers Coles and Woolworths during the current cost-of-living crisis have hit their brand reputation, but Bunnings is loved by consumers and is the country's most trusted brand according to some measures, the Jefferies analysts say. According to Jefferies, the ABC "Four Corners" report will accuse Bunnings of abusing its market power relating to suppliers, margins and pricing. But the analysts say Bunnings' margins aren't excessive compared with peers. "Previous attempts to criticize Bunnings haven't landed because consumers love Bunnings & the purchase occasion is more enjoyable than grocery, which can be a grudge," the Jefferies analysts say. (mike.cherney@wsj.com)
(END) Dow Jones Newswires
May 12, 2025 00:34 ET (04:34 GMT)
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