How Wesfarmers took Catch from profitable to loss-making in four years
Inside Retail
FEBRUARY 19, 2023
On an investor call last Wednesday, Wesfarmers CEO Rob Scott was forced to explain the $108 million loss, including $33 million in restructuring costs, that the retail conglomerate booked at its off-price online retailer, Catch, in the first half of FY23. Following the online retailer’s $58 million loss in FY22, and $24 million loss in FY21, the result was described as “frankly unacceptable” by Bank of America’s David Errington, and prompted blunt questions about the future of the business.
Let's personalize your content