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Amazon set to lead Australian online market as rival pulls IPO

Wesfarmers' planned share sale for Officeworks scrapped, with analysts almost halving profit forecasts for retailers
Thursday, May 18, 2017 - 05:50

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A Wesfarmers Ltd Coles supermarket in Sydney. Wesfarmers Ltd, the supermarkets-to-hardware conglomerate, is Australia's biggest private employer and is set to face intense competition from Amazon.

Sydney

EVEN before Amazon sets up shop in Australia, the online giant is hurting its biggest rivals.

Wesfarmers Ltd, the supermarkets-to-hardware conglomerate that's Australia's biggest private employer, on Wednesday scrapped a A$1.5 billion (S$1.5 billion) initial public offering

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