Catch of the Day to Shut Down by April 2025 After $350M Losses

Catch of the Day is officially closing operations by the end of April 2025. One of Australia’s first internet stores. Following ongoing financial underperformance, parent firm Wesfarmers, which also manages brands like Kmart, Target, Bunnings, and Officeworks, announced closure. In a digital retail environment growing more competitive, Catch battled to remain profitable even with early success and aggressive growth. Catch of the Day is going to shut down After losing more than $350 million in the past three and a half years.

Financial Struggles Leading to The Closure

Over the last three and a half years, Catch recorded about $350 million in combined losses. The online shop lost $88 million in 2022; in 2023 it lost $163 million; in 2024, it lost another $96 million. Catch is expected to show a pre-tax operating loss of around $40 million for the first half of the 2024-2025 fiscal year. This financial path stands somewhat apart from Wesfarmers’ strong general performance, which last year saw the business turn a $2.6 billion post-tax profit.

Timeline of Key Financial Events

Catch Financial Performance Timeline

• 2019: Wesfarmers acquires Catch for $230M
• 2022: Reports $88M loss
• 2023: Reports $163M loss
• 2024: Reports $96M loss
• 2025: Anticipates $40M first-half loss
• April 2025: Scheduled closure

Historical Overview: From Start-Up Success to Corporate Acquisition

Originally started by brothers Hezi and Gabby Leibowicz as “Catch of the Day,” the site became somewhat well-known in Australia’s growing e-commerce market very quickly. Starting with five staff members, Catch developed into a retail behemoth from a small beginning and finally was acquired by Wesfarmers in 2019 for $230 million. Reflecting the company’s early promise and market excitement, analysts at JP Morgan valued Catch at more than $1 billion at its height.

The Increasing Pressure of E-Commerce Competition

Catch’s long-term sustainability suffered as the Australian internet retail market developed quickly. Rob Scott, Managing Director of Wesfarmers, blamed increasing competition pressures undermining future development possibilities as well as financial performance.

“The current rise in competitive intensity in the Australian e-commerce sector has affected Catch’s financial performance and growth prospects,” Rob Scott said.

Notwithstanding the difficulties, Wesfarmers claims that the purchase gave the business priceless digital knowledge and tools that have hastened its efforts at a wider digital transformation.

Strategic Reallocation of Resources

Strategic Reallocation of Resources Catch’s fulfilment hubs, which are Sydney and Melbourne-based and already running below 50 percent capacity, will be incorporated into Kmart Group logistics. Managing Director of Kmart Ian Bailey underlined that this change is expected to increase operational efficiency, therefore enabling faster delivery times and lower unit costs.

“The move will relieve pressure on our busy stores and produce faster customer deliveries at a reduced unit cost,” Bailey said.

Moreover, Wesfarmers has promised to provide Catch staff members with redeployment possibilities inside its large-scale retail and healthcare sectors, where it is practical.

Implications for the Broader Retail Landscape

Catch’s closing emphasises the changing realities of Australia’s online retail industry, in which survival now depends critically on agility, size, and omnichannel integration. Digital-native stores previously upended established brick-and-mortar models, but the unrelenting speed of competition today calls for constant innovation, operational efficiency, and strong customer loyalty programmes.

Conclusion

Catch of the Day approaching closing is a sobering reminder of the difficulties even established internet companies encounter in an industry that is fast changing. The Australian retail industry watches closely as Wesfarmers reallocated assets and refocused its digital strategy, learns from Catch’s rise and fall in an increasingly merciless e-commerce space.