Pauley
Yes I believe Bunnings is around the 19-20%, which for the largest market player is not overly significant and attests to Hardware/Home improvement still being a relatively fragmented retail sector. Mitre 10 is the next largest at around 4% from memory.
The only way I have come to an approval of this strategy of WOW's to enter this market is by reviewing the growth Bunnings are still achieving both in Revenue, margins, and store numbers. Bunnings look outstanding because they don't have a viable competitor.
Masters can achieve single digit market share over the next 5 years without even worrying Bunnings IMO.
The risk is mainly in the execution and Lowes, should help mitigate this risk.
I keep saying it but its the smaller players in this market that will get squeezed overtime.
rethinking woolworths, page-24
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