Bunnings owner told to share the wealth
A Kiwi trade union has called on Australian conglomerate Wesfarmers, owner of the Bunnings hardware stores, to spread its wealth with its workers.
Wesfarmers today reported a A$2.12 billion ($2.75 billion) profit for the year, up 10.6 per cent on the previous year. Operating revenue for the year to June was up 5.8 per cent to A$58.1b.
First Union Retail said the results would be welcomed by Bunnings' New Zealand workers, who are currently in negotiations for a wage rise.
There are 48 Bunnings stores in New Zealand.
"The New Zealand shop workers who helped Bunnings NZ contribute to these good profits are looking for a bit of that wealth to be shared in current wage talks," said Maxine Gay, the union's secretary.
"Even in the peak of the recession, as high-end and luxury goods retailers took a backward step, DIY and homeware stores continued to do well as customers sought out lower cost goods."
The profit announcement showed Bunnings New Zealand was in a comfortable position to reward its workforce for their hard work and contributions to the company's success, she said.