Wesfarmers (ASX:WES) share price climbs 10% in a month amid ‘favourable momentum’

The Wesfarmers share price continues to climb today amid strong consumer interest in its biggest retail brands.
The post Wesfarmers (ASX:WES) share price climbs 10% in a month amid ‘favourable momentum’ appeared first on The Motley Fool Australia. –

The Wesfarmers Ltd (ASX: WES) share price continues to climb today, adding to strong gains this past month.

At the time of writing, the Wesfarmers share price is up 0.5% to $55.94 per share, putting its gains over the past month at just under 10%.

Wesfarmers is a diversified Australian business with broad business operations including home improvement and outdoor living, apparel and general merchandise, office supplies; and an industrials division with businesses in chemicals, energy and fertilisers, and industrial and safety products.

From its origins in 1914 as a Western Australian farmers’ cooperative, Wesfarmers has grown into one of Australia’s largest listed companies trading on the ASX. Headquartered in Perth, Western Australia, Wesfarmers subsidiaries include household names such as Bunnings Warehouse, Kmart Australia, Officeworks and more.

Strong online search interest

The company’s strong performance online is one factor that could have provided the impetus for the Wesfarmers share price’s 10% gains this past month. 

Recent research from Macquarie looked at Google Trends data and found that Wesfarmers-owned Kmart leads in digital interest in home retail. Similarly, Wesfarmers-owned hardware giant Bunnings leads online hardware searches.

Bunnings has become a retail goliath in Australia with little clear competition since the demise of Woolworths (ASX: WOW) -owned Masters.

As the Motley Fool reported earlier this month, Wesfarmers has an enviable position with its brand stable. Bunnings is Australia’s leading hardware retailer, Officeworks is the leading office supplies retailer, Kmart is the leading discount retailer.

Meanwhile, Wesfarmers’ would-be Australian online Amazon-rival, Catch, is expanding as an online retailer. 

However, while online search interest in Bunnings and Kmart has been strong, interest has fallen over recent months in both Catch and Officeworks, which both showed heightened interest in the November to January period.

“Wesfarmers has seen favourable momentum in Bunnings and Kmart for online search activity as value remains a key driver for consumers,” Macquarie said, as quoted by

“As expected, Easter long weekend led to heightened search interest, as people continue home-improvement projects.”

Wesfarmers share price snapshot

Wesfarmers hasn’t released a price-sensitive market update since its 2021 half-year FY21 report on 18 February, where it announced a 16% increase in total revenue.

The Wesfarmers share price has continued to rise steadily though, adding 3% the past week and 10% the past month, creating a 46% gain over the past 12 months.

Where to 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 more than eight years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

Scott just revealed what he believes are the five best ASX stocks for investors to buy right now. These stocks are trading at dirt-cheap prices and Scott thinks they are great buys right now.

See The 5 Stocks

*Returns as of February 15th 2021

More reading

Motley Fool contributor Lucas Radbourne-Pugh has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of Wesfarmers Limited and Woolworths Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

The post Wesfarmers (ASX:WES) share price climbs 10% in a month amid ‘favourable momentum’ appeared first on The Motley Fool Australia.

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.

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

Share With Your Friends

Share on facebook
Share on twitter
Share on linkedin

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 indefinitely, 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.

Important Notice
iOS & Android App - 12 International Markets & Over 70% Global Market Cap. $0 Brokerage On US Trades. Click Here!