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Post Info TOPIC: HOW A GIANT HAS FALLEN !!
kiwijims


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HOW A GIANT HAS FALLEN !!
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Woolworths posts loss of $1.2b; food, petrol sales slump

Woolworths has posted a full year loss of $1.23 billion a slump of 157.5 per cent from the year prior, hammered by its failed home improvement venture, a downturn in Big W sales, and as food and petrol sales also slumped.

Woolworths has announced a new operating model, with 500 roles to be permanently removed from its support office and supply chain.

The loss comes after the company confirmed yesterday it would close all the stores of its failed home improvement chain Masters in December, with jobs to go. Woolworths ruled off the Masters debacle, booking it in as a discontinued operation with a final post-tax $3.2 billion loss.

K.J.



-- Edited by kiwijims on Thursday 25th of August 2016 10:23:43 AM

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jules47


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WOW - there are Masters stores all over the place, some have just been opened - I noticed how many there were, while in Victoria last week. Also noticed in a BigW that has always been extremely busy, the lack of stock - ie - they only had iPads - no other brands available - just generally had an "understocked" look about it.

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Desert Dweller


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Our local Woolworths has been in a a shopping complex for many years. Aldi moved in around 3 years ago & left them for dead.

Woolworths has about 8 checkouts with only 1 operating. Aldi have 5 checkouts operating full time quite often.

Coles seems to be holding it's own just up the road.

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Ron-D


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Well I have some woollies shares so that's the kiss of death.blankstare



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Aus-Kiwi


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Local Woolies seems understaffed also . Not the same amount of stock on shells . Can't feel too sorry for them . From an ex dairy farmers point of view ., Went too big on a failed under budgeted plan .,

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sandsmere


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I'm not sorry.

Woolworths have been responsible for sending hundreds of small businesses broke.



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Big Gorilla


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Ron-D wrote:

Well I have some woollies shares so that's the kiss of death.blankstare

I wouldn't give up yet ! Not about to discount mine. Give the new guy a chance... 



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brickies


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Yes just a change in direction is better than holding onto something that not working .

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dogbox


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Desert Dweller wrote:

Our local Woolworths has been in a a shopping complex for many years. Aldi moved in around 3 years ago & left them for dead.


Woolworths has about 8 checkouts with only 1 operating. Aldi have 5 checkouts operating full time quite often.


Coles seems to be holding it's own just up the road.




notice a while back when they opened a new woollies near us the place was full of new managers walking around in groups. so many that customers that customers had to shop around them or wait for them to move on but business was booming the que at the checkout (the one that was open) was 4 deep

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Yuglamron


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Does anyone seriously think Woolworths have lost all that Money.

No!!!!! the Shareholders and the Australian Taxpayer are footing the bill and also those  bonuses that were paid to the Fatcats of Woolies who set up Masters.



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macka17


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About time those big buggars paid a little.
The three of them (Coles. Woolies, and thebig 4) are the reason the food,Furniture. House prices
are so high in this country..

We go O\S most yrs for a coupla months.
The food pricing and fuel, in this country are disgusting compared to elsewhere..
Total thievery.

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Ron-D


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Big Gorilla wrote:
Ron-D wrote:

Well I have some woollies shares so that's the kiss of death.blankstare

I wouldn't give up yet ! Not about to discount mine. Give the new guy a chance... 

 I agree B/G no sense in locking in a loss...



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Cruising Cruze


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@ Aus-Kiwi

That has be going on for the last 15 years
3 years ago 2.2 billion profit was not enough
At every department managers meeting we had to safe wages all the time, nothing new



Cheers John

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Aus-Kiwi


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Yep about 15 years ago they warn't doing too well either !!! Closing down stores . The store in StClair through weekends is so busy getting parking takes some time .. We have Aldi a kilo meter away ..

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Bryan


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Big Gorilla wrote:
Ron-D wrote:

Well I have some woollies shares so that's the kiss of death.blankstare

I wouldn't give up yet ! Not about to discount mine. Give the new guy a chance... 

 Absolutely correct. Once they get rid of Masters and refocus Big W's marketing to synchronise with current purchasing patterns, they'll be back in the black.

 

Even the Post Office got it right and is now making money.



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Bryan
Aus-Kiwi


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Lowes U.S is a part owner too..




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