Office Products News

Officeworks tops $2.3b in full year sales

Revenue up in-store and online.

Officeworks has continued its long run of revenue and profit growth with full year revenue to 30 June up eight per cent to $2.3 billion.
New and expanded product lines delivered strong results at Officeworks, with sales revenue growing 7.6 per cent, and EBIT growing 7.1 per cent to $167 million.
An enhanced online offer and a focus on customer service also resulted in improved customer satisfaction levels, according to the company's managing director Sarah Hunter (pictured).
The retailer, which has 167 outlets, expects to open a new distribution centre in Western Australia, though Wesfarmers noted earnings growth in FY20 is likely to be affected by lower prices on products, and higher wages for team members as part of a new workplace agreement.
A highlight of Officeworks’ year was the opening of the world’s largest office supplies store at Mentone in Melbourne, which showcased the company’s extended range of education, art and craft, commercial furniture and commercial technology categories.
Performance highlights
  • Total sales growth of 7.6%
  • Strong sales growth in stores and online 
  • Strong momentum in the B2B segment •
  • Continued investment in price leadership and effective management of cost of doing business 
  • Growth in sales and earnings driven by new and expanded product ranges, enhancement in online and click and collect offer, and continued focus on customer experience
Outlook - key focus areas include:
  • Opening a new distribution centre in WA,
  • Implementing the new store agreement for team members,
  • Continuing to improve the every-channel offer,
  • Growing the Geeks2U offer and further building community partnerships
  • Earnings growth in FY2020 will be affected by maintaining price leadership and higher team member wages, partially offset by productivity.


Date Published: 
29 August 2019