Wesfarmers’ hopes of growing a home-grown online marketplace have ended with the retail giant conceding it cannot compete with major international rivals such as Amazon and Temu and closing Catch.
The West Australian-based conglomerate is behind big retailers such as discount department store Kmart, hardware chain Bunnings and stationery brand Officeworks. On Tuesday, it told investors that it would close its daily deals business Catch because of unending losses.
Loading...
Carrie LaFrenz is a senior journalist covering retail/consumer goods. She previously covered healthcare/biotech. Carrie has won multiple awards for her journalism including financial journalist of the year from The National Press Club. Connect with Carrie on Twitter. Email Carrie at carrie.lafrenz@afr.com
