Farmers parent Foodland Associated yesterday used its fourth-quarter sales briefing to say the fate of the retail chain, which has been on the block for five months, will be known within days.
The Perth-based company is Australia's No 3 supermarket chain and also owns New Zealand supermarket operatorProgressive Enterprises.
It posted fourth-quarter sales of A$1.5 billion, up from A$1.2 billion in the previous corresponding quarter.
Year-to-date figures showed total group sales of A$6.3 billion, up from A$4.5 billion at the same time last year.
Progressive Enterprises, which last week opened its $23 million North Island distribution centre, played a big part in the sales increase. Its quarterly sales rose to $945 million from $671 million over the same three months the year before.
The Farmers division was the bad egg, recording a decline in quarterly sales to $170 million from $180 million. Full-year sales were down 0.1 per cent to $721.1 million.
The disappointing quarterly figures support market speculation that the chain's dismal trading has hampered the sale process.
Foodland chief executive Trevor Coates said Farmers had "performed not to expectation" and that big ticket and appliance sales were slow, although the beauty and apparel lines showed improvement.
Coates said Foodland would bring initiatives to the Farmers chain, including jewellery and fashion for young men.
He denied the initiative meant a sale of Farmers was unlikely, and said a number of parties were still negotiating.
"We would hope that by the end of this week or beginning of next we can give an update on whether we have sold the business."
