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Wesfarmers says weaker spending to have an impact

Sun Jul 13, 2008 11:58pm EDT

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MELBOURNE, July 14 (Reuters) - Australian conglomerate Wesfarmers (WES.AX) said on Monday a downturn in consumer sentiment, amid high fuel prices and interest rates, would impact on some of its retail businesses.

The downturn in consumer sentiment "will impact on our discretionary spending businesses," Wesfarmers Chief Executive Richard Goyder said in response to a question following a speech to the Australia-Israel Chamber of Commerce.

Those businesses include discount retail chains KMart and Target and hardware store Bunnings. ($1=A$1.03) (Reporting by Victoria Thieberger)



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