Kmart NZ’s revenue nears $1 billion

The Australian-owned retailer's profits are up 52.2%. (Image: Alex Cairns)

Wed, 27 Nov 2024

Kmart's New Zealand operation is fast approaching the $1 billion turnover mark as it gets set for further expansion. In annual earnings lodged with the Companies Office on Tuesday, Kmart NZ Holdings declared total revenue of $999.5 million in the year to June 30.While sales rose 8.2% compared with last year, the cost of goods sold fell, leading to gross profit spiking by 23.2% to $438.7m. This helped boost net profit by 52.2% to $106m, a NZ record for the subsidiary of Australian retail giant Wesfarmers.Wesfarmers also o...

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