Wesfarmers to resist price rises
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Wesfarmers will attempt to gain market share across its retail and industrial businesses by absorbing or offsetting rising costs rather than passing them onto consumers.
Prices for raw materials such as cotton, products such as lumber, and the cost of shipping containers has soared amid booming global demand, but Wesfarmers chief executive Rob Scott said the conglomerate would do what it could to avoid raising prices.
CEO Rob Scott: “When cost prices go up, Wesfarmers’ businesses do everything they can to keep prices down because that’s what our customers depend on us for.”