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West Australian
26-05-2025
- Business
- West Australian
‘I don't apologise': Bunnings boss responds to ABC claims
Wesfarmers chief executive Rob Scott has hit back at an ABC Four Corners documentary accusing Bunnings of pressuring suppliers, stifling competition and inflating prices, saying he 'does not apologise for trying to build a successful business'. The episode aired last week and put the beloved Australian hardware giant under scrutiny, highlighting supplier complaints and examining the chain's $19bn revenue and $3.2bn profit in 2024, figures that equate to a 16.8 per cent profit margin, nearly double that of supermarket giants Woolworths and Coles. Speaking on Sky News' Business Weekend, Mr Scott defended Bunnings' operations and rejected the suggestion that the company engaged in unfair practices. 'We pay our team members more than well above the award rates, the relationships we have with our thousands of suppliers are very strong and longstanding,' Mr Scott said. 'Now, occasionally, businesses make mistakes and when they do make a mistake, it's important that they own it and face into it.' Mr Scott also acknowledged that Bunnings' presence in certain retail precincts could put pressure on competitors but maintained this was ultimately a benefit to customers. 'There is pressure on the competition, but at the end of the day someone has to be there for the customer, right?' he said. 'Someone has to offer great value to customers and remembering as well that I don't apologise for trying to build a successful business in Bunnings.' He added that the company was contending with major global retailers and remained focused on maintaining local jobs and opportunities. 'We are fighting tooth and nail against some very big and fierce international competitors in the retail space and we would rather that those jobs and those opportunities stay within Bunnings,' he told Sky News. The ABC report also flagged concerns from suppliers who alleged the company marked up products significantly to boost profits, with critics claiming Bunnings' pricing strategy was misleading. In response, Bunnings said its margins weren't directly comparable with supermarkets because of the nature of its stock and slower product turnover. Bunnings' business practices are also expected to come under further scrutiny as part of a federal Senate inquiry into the market power of so-called 'big box' retailers, including Ikea and Costco. In a statement following the Four Corners broadcast, Bunnings managing director Mike Schneider said the company 'strongly rejects any suggestions made in the program that we engage in anti-competitive behaviour, bullying, underpayment of our team or that we seek to limit consumer choice or the application of our price guarantee. 'We want to reaffirm our commitment to the values that have guided our business for decades which is in direct contrast to the characterisations made by the ABC.'
Yahoo
26-05-2025
- Business
- Yahoo
‘I don't apologise': Bunnings boss responds
Wesfarmers chief executive Rob Scott has hit back at an ABC Four Corners documentary accusing Bunnings of pressuring suppliers, stifling competition and inflating prices, saying he 'does not apologise for trying to build a successful business'. The episode aired last week and put the beloved Australian hardware giant under scrutiny, highlighting supplier complaints and examining the chain's $19bn revenue and $3.2bn profit in 2024, figures that equate to a 16.8 per cent profit margin, nearly double that of supermarket giants Woolworths and Coles. Speaking on Sky News' Business Weekend, Mr Scott defended Bunnings' operations and rejected the suggestion that the company engaged in unfair practices. 'We pay our team members more than well above the award rates, the relationships we have with our thousands of suppliers are very strong and longstanding,' Mr Scott said. 'Now, occasionally, businesses make mistakes and when they do make a mistake, it's important that they own it and face into it.' Mr Scott also acknowledged that Bunnings' presence in certain retail precincts could put pressure on competitors but maintained this was ultimately a benefit to customers. 'There is pressure on the competition, but at the end of the day someone has to be there for the customer, right?' he said. 'Someone has to offer great value to customers and remembering as well that I don't apologise for trying to build a successful business in Bunnings.' He added that the company was contending with major global retailers and remained focused on maintaining local jobs and opportunities. 'We are fighting tooth and nail against some very big and fierce international competitors in the retail space and we would rather that those jobs and those opportunities stay within Bunnings,' he told Sky News. The ABC report also flagged concerns from suppliers who alleged the company marked up products significantly to boost profits, with critics claiming Bunnings' pricing strategy was misleading. In response, Bunnings said its margins weren't directly comparable with supermarkets because of the nature of its stock and slower product turnover. Bunnings' business practices are also expected to come under further scrutiny as part of a federal Senate inquiry into the market power of so-called 'big box' retailers, including Ikea and Costco. In a statement following the Four Corners broadcast, Bunnings managing director Mike Schneider said the company 'strongly rejects any suggestions made in the program that we engage in anti-competitive behaviour, bullying, underpayment of our team or that we seek to limit consumer choice or the application of our price guarantee. 'We want to reaffirm our commitment to the values that have guided our business for decades which is in direct contrast to the characterisations made by the ABC.'
Sky News AU
24-05-2025
- Business
- Sky News AU
'I don't apologise': Wesfarmers chief executive Rob Scott hits back after ABC's Four Corners episode criticising Bunnings
The CEO of Bunnings-owner Wesfarmers has declared he 'does not apologise for trying to build a successful business' after the ABC aired a documentary with criticisms of the hardware retailer's business practices. Join to watch the full interview with the Wesfarmers boss on Business Weekend at 11am (AEST). Bunnings is alleged to have used its market power to squeeze suppliers, keep competitors from setting up stores in retail precincts where its outlets are and is disingenuous about its pricing while making large profits. The allegations in the ABC Four Corners documentary came as a reputational blow to the beloved Australian store, with Wesfarmers' CEO Rob Scott addressing these allegations on Sky News' Business Weekend. 'We pay our team members more than well above the award rates, the relationships we have with our thousands of suppliers are very strong and long-standing,' he said. 'Now, occasionally, businesses make mistakes and when they do make a mistake, it's important that they own it and face into it.' After admitting the presence of his stores put pressure on the retailer's competition, Mr Scott argued the competition offered by Bunnings was critical for Aussie consumers. 'There is pressure on the competition, but at the end of the day someone has to be there for the customer, right?' he asked. 'Someone has to offer great value to customers and remembering as well that I don't apologise for trying to build a successful business in Bunnings. 'We are fighting tooth and nail against some very big and fierce international competitors in the retail space and we would rather that those jobs and those opportunities stay within Bunnings.' Bunnings is also a point of focus of a 'Big Box' senate inquiry that will investigate the market power of large-format retailers, including Ikea and Costco, and how they set their prices. The Aussie warehouse store's $19 billion of revenue in 2024 was also a point of focus in the ABC's report, alongside its $3.2b in profits before tax, interest and depreciation. This has meant the company has 16.8 per cent profit margin, almost double those generated by Woolworths or Coles which are described as two of the most profitable supermarkets in the world. Bunnings said its margins are 'not directly comparable' to the supermarket sector due to the different array of products and the slower turnaround of its items. The ABC episode also noted grievances from suppliers that Bunnings was marking up its products to make the large profits. Following the episode of Four Corners airing, Bunnings' managing director Mike Schneider said the company "wants to reaffirm our commitment to the values that have guided our business for decades which is in direct contrast to the characterisations made by the ABC". "We strongly reject any suggestions made in the program that we engage in anti-competitive behaviour, bullying, underpayment of our team, or that we seek to limit consumer choice or the application of our price guarantee," Mr Schneider said in a statement.
Sky News AU
15-05-2025
- Entertainment
- Sky News AU
Woke footy player turned ABC radio host issues grovelling apology after insinuating co-host worked at a strip club in high school
Former AFL player turned ABC radio host has had to apologise for an off-colour remark he made on Wednesday insinuating his female co-host worked at a strip club during high school. During the duo's Melbourne breakfast show, Sharnelle Vella was interviewing a financial expert when she was interjected by Murphy. Speaking to Elinor Kasapidis from Certified Practising Accountants Australia, Vella said she recalled working in retail "many moons ago when I was still in high school-" Murphy then stole the moment to quip: "Not at Spearmint Rhino?" Spearmint Rhino is a chain of strip clubs which operates venues in Melbourne as well as the US and the UK. On Thursday's show, the former Bulldogs captain told listeners he wanted to publicly apologise for the comment. "I did make a comment that insinuated my colleague and co-host Sharnelle here worked at Spearmint Rhino, a well known Melbourne strip club," he said. 'Cutting straight to the point, it was not just a mistake, it was a gross and inaccurate off hand quip. I promised Sharnelle that I'd never disrespect her and I did break that promise put simply. I'm really sorry.' Vella's response did little to ease the tension. "Look, I won't let you off the hook on it. It wasn't okay," she said. "I appreciate your words but we do move on." has approached the ABC for comment. Murphy has recently receive backlash for his "wokeness" by rival Melbourne radio host Tom Elliot of 3AW for using the term 'AFLM' to refer to the AFL. 'Does anybody else honestly want to call the AFL the AFLM?' Elliott said. 'In America, you have the NBA and then the WNBA, that works fine. 'I think he (Murphy) is the only person who does this. He persists in calling the AFL the AFLM … that is wokeness.' In 2023, Murphy publicly admonished his former teammate Jason Akermanis who wrote a column urging players to "stay in the closet" to keep their sexuality out of the the sport, regarding it as too controversial. Akermanis was delisted and suspended by the Bulldogs in 2010 for his column. During an ABC Four Corners episode, Murphy said Akermanis' comments had "hurt", "disgusted" and "embarassed" him. Akermanis hit back and called Murphy a "sook". Speaking to the Nine Network at the time, Akermanis said he did not personally hold those views and clarified he had played with a gay player in Queensland who was a "terrific guy". In a plea to gay players, Murphy said they would be "fought for and supported" if they came out. "If there is a dissenting voice, they will be told to shut the f*** up or get out," Murphy said. The ABC breakfast show has suffered a crash in its audience share, having dropped more than one per cent in March from 7.9 to 6.3 before tumbling further in April to 5.6 per cent.
