SYDNEY, March 2, 2026, 18:21 AEDT — After-hours
- Wesfarmers eked out a slight gain by the end of a volatile session.
- Traders are reacting to word of an ACCC complaint over Bunnings’ partnership with Uber Eats.
- Dividend reinvestment pricing window opens, drawing attention to where shares trade each day
Wesfarmers Limited edged up 0.6% to finish at A$80.08 on Monday, moving between A$78.65 and A$80.44 over the course of the session. The stock closed 46 Australian cents higher than its prior finish of A$79.62.
Investors were also grappling with a new dispute involving Bunnings, after Mitre 10 filed a complaint with the Australian Competition and Consumer Commission (ACCC) over Bunnings’ exclusive deal with Uber Eats, The Australian reported. In the filing, Mitre 10 claimed Bunnings leveraged its “scale and market dominance” to limit Mitre 10’s access to the Uber Eats platform, the report said. The Australian
The dividend reinvestment plan, or DRP, is also drawing attention right now—shareholders can opt for new shares instead of a cash payout. According to a Feb. 18 filing, Wesfarmers will set the DRP allocation price based on the average daily VWAP from March 2 through March 20, without any discount. This comes ahead of the fully franked interim dividend of A$1.02 per share, which is scheduled for March 31. VWAP stands for volume-weighted average price, calculated using trading-day averages weighted by volume.
The spat comes as retailers push for faster, easier shopping and delivery apps try to drag more goods under their “on-demand” umbrellas. For Wesfarmers, it’s not just this deal—what’s at stake is how much muscle large-format chains can flex on exclusivity before they hit resistance.
Last week, Bunnings announced plans to launch over 30,000 DIY, garden, and hardware items on Uber Eats, kicking off at 15 stores. The retailer is aiming for delivery times under an hour. “There are times when ‘convenience and speed are the priority’,” chief operating officer Ryan Baker said.
Australian shares barely budged but still managed to notch a record close, lifted by energy plays as oil spiked on rising Middle East tensions. Banks dragged. The S&P/ASX 200 edged up 0.03% to end at 9,200.9, according to an ABC markets live blog.
Wesfarmers—a conglomerate with a big retail footprint—lands squarely between household budget pressures and the bite from fuel and supply-chain costs. Investors keep a close eye on Bunnings’ sales mix, watching for any signs that housing or renovation demand could be shifting.
Monday’s gain wasn’t enough to offset losses: the stock remains about 1.8% lower year to date and is roughly 4.7% below last week’s close, per Morningstar data.
The picture could shift fast if the ACCC moves ahead with the complaint, or should Uber Eats change course on hardware exclusivity—either tightening or relaxing it. A prolonged rise in transport costs would put pressure on the “faster delivery” playbook retailers are leaning on, particularly if shoppers begin to ease off.
The market’s closed, so focus shifts to Tuesday—watch for moves from Bunnings or Uber Eats, and for any hint of regulator involvement. Traders are also tracking the DRP VWAP window, which stays open until March 20, leading up to the interim dividend on March 31.
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