Wesfarmers CEO sees better outlook for retail

Published: 27 Jul 2009 20:28:08 PST

MELBOURNE, July 28 - Conglomerate Wesfarmers <WES.AX> sees a better outlook for the Australian retail sector as global economic conditions start to improve, Chief Executive Richard Goyder said on Tuesday.

At the beginning of the year "the world was pretty grim, it's certainly better now than it was then", Goyder said on the sidelines of a business lunch.

Goyder said sales growth at the group's Coles supermarkets chain would be comparable with other retailers.

Wesfarmers' bigger supermarkets rival, Woolworths Ltd <WOW.AX>, last week reported a 7.9 percent jump in fourth quarter like-for-like sales in food and liquor.

"You've seen other retailers, we're not going to be too different from that," Goyder said.