Wesfarmers reported weak headline sales figures for 2Q12 relative to recent quarters.
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Wesfarmers (WES) - COAL COOLING
Metallurgical Coal Price Falls 19%.
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Wesfarmers (WES) - FOOD A HIT, TARGET A MISS
After very strong performance against the market over recent months we downgrade to Neutral.
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Wesfarmers (WES) - Upping The Ante
High quality retail asset, Coles and Bunnings = 65% of asset value and both have good growth potential as does Resource expansion through to FY14, subject to coal prices.
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Wesfarmers (WES) - Blame it on the alcohol
With 4Q11 sales data included in our WES model and margin assumptions unchanged our FY11 retail EBIT for WES is unchanged at $2,592m.