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Australia's Wesfarmers says to retain Kmart stores

Tue Mar 18, 2008 11:29pm EDT

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SYDNEY, March 19 (Reuters) - Australian conglomerate Wesfarmers Ltd (WES.AX) said on Wednesday it has decided to retain the Kmart discount store chain it bought as part of its $18 billion purchase of retailer Coles Group.

Wesfarmers Managing Director Richard Goyder said the group had been encouraged by Kmart's improved performance in the latter months of the first half of the financial year and the prospects for growth. (Reporting by Richard Pullin)



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