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Australia's Wesfarmers falls on slowing Bunnings Group sales growth

By Reuters News

** Shares of Wesfarmers WES.AX fall as much as 4.5% to A$73.65, their lowest level since September 29

** Stock on track for its weakest intraday trading session since August 27, if current trends hold

** Australia's biggest non-food retailer Wesfarmers' CEO, at the firm's AGM, said Bunnings Group's year-to-date sales growth has moderated since H2 FY26

** "Despite a stronger start to the quarter, lower sales across seasonal categories and the commercial segment in recent weeks have weighed on overall sales performance," CEO Rob Scott added for Bunnings

** Citi says Bunnings sales are tracking below its 2H26 estimate of 2.4% growth and the Visible Alpha consensus forecast of 3.8% growth for 1H27

** We continue to view material downside earnings risk to Bunnings, with Citi currently forecasting 0.7% EBIT growth in FY27 estimates vs VA consensus at 4.1% - Citi

** Stock down 7.8% YTD, including the day's moves

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