Wesfarmers (ASX:WES) said its online retailer Catch will cease trading as a standalone operating business in the fiscal fourth quarter ending June, according to a Tuesday filing with the Australian bourse.
The company will transfer Catch e-commerce fulfillment centers to Kmart Group, and select digital capabilities to its retail divisions, the filing said.
The company anticipates AU$50 million to AU$60 million in one-off costs for the wind-down and transition of Catch to be included in its fiscal second half results, including roughly AU$25 million to AU$30 million of non-cash costs, per the filing.
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