Ann: Intention to demerge Coles - Briefing Presentation, page-29

This is the best decision that they have taken in years as a group. The next thing should be to accelerate the closure of Target stores and concentrate on putting in some decent leadership at Bunnings UK to help fix that leaky boat.
Coles is never going to cut it on a ROC basis, because WES have their stocking stuffed full of goodwill from the original purchase. That is simple accounting and unfortunately now that WOW have finally woken up to themselves, they will emerge as a fierce competitor. Interestingly WES must be relieved to have given WOW two black eyes over the journey, but now they are thinking it may be a good time to get out of groceries an focus on hardware good and proper.
With Kmart and Officeworks performing well and Target's days numbered, the future looks a lot brighter for the group minus Coles.