Insights

From Cotton On to Catch: Wesfarmers’ plans to put its acquisition back on track

Catch’s digital presence is about to get some fresh eyes.
The post From Cotton On to Catch: Wesfarmers’ plans to put its acquisition back on track appeared first on The Motley Fool Australia. –

Shares in Wesfarmers Ltd (ASX: WES) edged higher on Friday.

This follows the company’s latest release regarding the appointment of a new managing director for its Catch.com.au business.

At market close on Friday, the conglomerates’ shares finished trading at $46.63, up 0.71%.

Wesfarmers draws in Cotton On talent

Investors are bidding up Wesfarmers shares after the company announced it has bolstered its leadership team.

In its release, Wesfarmers advised that experienced retail and e-Commerce executive Brendan Sweeney will become the new managing director for Catch.

Since 2015, Sweeney has headed up the global eCommerce and loyalty division for Australia’s largest global retailer, Cotton On Group.

Serving as group general manager of e-commerce, Sweeney leads the international online strategy across the Cotton On brand portfolio.

Prior to his current role, Sweeney led the strategy function at Coles Group Ltd (ASX: COL), where he led the supermarket’s multichannel offering.

Sweeney has significant e-commerce experience in both Australia and overseas in leading retail e-commerce businesses.

Wesfarmers OneDigital managing director and frequent commentator, Nicole Sheffield said:

Under OneDigital, Catch is transitioning to a broad-based Australian marketplace offering, focused on brands customers know and love.

Brendan has significant experience leading large-scale ecommerce and retail investment programs and will spearhead this transformation. He will also lead the Fulfilled by Catch program, a multimillion-dollar investment in cutting-edge fulfilment centres and delivery technology to drive faster delivery for Catch and other Wesfarmers retail business.

Acquired by Wesfarmers in 2019 for $230 million, Catch has recently moved into the Wesfarmers OneDigital division under Nicole Sheffield.

Sweeney is expected to begin the role in late October.

Wesfarmers share price snapshot

Since the start of 2022, the Wesfarmers share price has continued to tread lower to post a loss of 21%.

The company appears to have been impacted by inflationary pressures as well as the weakened economic environment.

Its shares hit a 52-week low of $40.03 on 17 June before regaining some lost ground in the weeks after.

Wesfarmers commands a market capitalisation of around $52.87 billion.

The post From Cotton On to Catch: Wesfarmers’ plans to put its acquisition back on track appeared first on The Motley Fool Australia.

Wondering where you should invest $1,000 right now?

When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for over ten years has provided thousands of paying members with stock picks that have doubled, tripled or even more.* Scott just revealed what he believes could be the “five best ASX stocks” for investors to buy right now. These stocks are trading at near dirt-cheap prices and Scott thinks they could be great buys right now

See The 5 Stocks
*Returns as of July 7 2022

setButtonColorDefaults(“#0095C8”, ‘background’, ‘#5FA85D’);
setButtonColorDefaults(“#0095C8”, ‘border-color’, ‘#43A24A’);
setButtonColorDefaults(“#fff”, ‘color’, ‘#fff’);
})()

More reading

Own Wesfarmers shares? Here’s why Bunnings and Kmart are under investigation by the information watchdog
Broker names 2 blue chip ASX shares to buy now
Should investors buy Wesfarmers shares for dividends?
Can ASX dividend shares deliver during earnings season?
Could ASX earnings season be ‘a lot better than what the market is positioned for’?

Motley Fool contributor Aaron Teboneras has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has positions in and has recommended Wesfarmers Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

Trade The World Anywhere & Anytime!

Mobile app platform with over 50,000 global listed securities across 12 markets (over 70% global market capitalisation), right from your Android or iOS device.

Integrated with exclusive trading idea and investment analysis tools to help you find actionable insight on virtually every financial instrument across our 12 global markets, to help you optimise your trading strategies.

Refer Your Friends

Tell your friends about Monex and gift them FREE access to our trading tools.

  • This field is for validation purposes and should be left unchanged.

We respect your privacy and will only send this one email notification to your friends. 

Share With Your Friends

Rebate Rewards

Level 2 Rebate

Deposit $2,000 and get $200 Rebate
$ 200 Rebate
  • 3 Simple Steps
  • 1. Register Using The Link Below (Promo-Code: WEBREBATE)
  • 2. Deposit $2,000 and place one trade at any non-Austalian market within 30 calendar days
  • 3. Receive Your $200 Rebate
Popular

Level 1 Rebate

Deposit $1,000 and get $100 Rebate
$ 100 Rebate
  • 3 Simple Steps
  • 1. Register Using The Link Below (Promo-Code: WEBREBATE)
  • 2. Deposit $1,000 and place one trade at any non-Austalian market within 30 calendar days
  • 3. Receive Your $100 Rebate

Monex Trading Tools Access and Usage Terms

The Monex Trading Tools (referred to as ‘tools’ hereafter) are available to you inside your client portal;

To activate access to the tools, you must have a verified and approved trading account and have made a deposit of at least AUD $1000.

An active and funded account with a positive trading balance is required to continue to have access to the tools;

Although the tools are available to you, Monex Securities may at it’s discretion disable access to the tools in the future;

Monex Securities reserves the right to change these terms and conditions from time to time, as it sees fit, without notice.

EASY QUALIFICATION & LOW ENTRY
NEW CLIENT REBATE OFFER
EARN UP TO $200 CASH REBATE
Act Fast - Promotion Ends In
Click Here To Get Started
EASY QUALIFICATION & LOW ENTRY
NEW CLIENT REBATE OFFER
EARN UP TO $200 CASH REBATE
Act Fast - Promotion Ends In
Click Here For More Info