Empty shelves and $50m loss: Woolworths’ industrial woes
Woolworths Group (ASX:WOW) has reported significant disruptions to its supply chain as industrial action at four distribution centres continues.
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Fresh moves: Woolworths wraps up Q1 with $18bn in sales
In its latest quarterly report, Woolworths Group (ASX:WOW) announced a 4.5% increase in total sales, reaching $18bn, for the 14-week period ending 6 October 2024.
Read MoreShopping spree for Aussie Super
The country’s biggest investor, Australian Super, has ignored all the poor publicity around supermarket giant Woolworths. It has spent close to half a billion dollars since late March on Woolworths shares.
Read MoreColes and Woolworths shares plunge amid ACCC misleading pricing allegations
Coles (ASX:COL) and Woolworths (ASX:WOW) shares fell by more than 3% yesterday following the ACCC's bombshell announcement of legal action against the supermarket giants, alleging they misled customers through their discount offers.
Read MoreACCC takes action against Woolworths and Coles over misleading pricing claims
For months now, major retail chains Woolworths (ASX:WOW) and Coles (ASX:COL), along with business groups, media, and analysts, have denied any allegations of price gouging occurring in supermarkets.
Read MoreAnalysis of Mineral Resources, Woolworths, Wesfarmers, Qantas
Fund Manager Chris Pedersen discusses Mineral Resources, Woolworths Group, Wesfarmers and Qantas Airways.
Read MoreWoolworths to pay another special dividend
Shareholders in Woolworths (ASX:WOW) won’t be getting another special dividend next February to go with the 40 cents a share revealed in last week’s financial report after the retailer sold its last stake of 4.1% in grog group, Endeavour on Friday night.
Read MoreWoolworths sales slows
Woolworths (ASX:WOW) fell even further behind rival Coles in the third quarter, as sales growth in it revenue and profit centre – Australian food (its supermarkets) slowed to 1.5%, less than a third of the sales growth rival Coles reported from its supermarkets reported on Tuesday.
Read MoreWoolies announces sale of over half its holdings in Endeavour Group
Ahead of its third-quarter sales update on Thursday, Woolworths (ASX:WOW) has sprung a surprise by revealing the sale of more than half of its retained holding in the grog, pubs, and pokies group, Endeavour, for $468 million.
Read MoreWoolworths CEO Brad Banducci departs amidst financial turmoil
Woolworths (ASX:WOW) CEO, Brad Banducci, is departing just days after a blow-up in an interview with ABC TV program Four Corners, which examined grocery pricing. However, his departure is more likely a result of the massive write-downs the retailer revealed for the first half of 2023-24.
Read MoreWoolworths faces statutory loss amid impairments and profit projections
Retail giant Woolworths is anticipating a statutory loss for the six months ending December. The supermarket group informed the ASX on Monday of impairments totaling nearly $A1.7 billion in its New Zealand supermarkets business and the accounting treatment for its remaining 9.1% stake in the Endeavour booze and hotels spin-off.
Read MoreColes falls short of Woolies
Coles (ASX:COL) fell short of matching the September quarter sales performance of its bigger supermarket rival, Woolworths.
Read MoreWoolworths Group reports 5.3% sales jump in first quarter
Woolworths Group (ASX:WOW) reported a 5.3% jump in first-quarter group sales, thanks to lower prices and solid demand for fruit, vegetables, and meat.
Read MoreWoolworths boosts full year dividend by 13% on solid revenue and earnings growth
Woolworths (ASX:WOW) shareholders are set to benefit from a 13% increase in the full-year dividend as the supermarket giant disclosed robust growth in revenue and earnings for the year ending June 25.
Read MoreSteady Quarter for Woolies, All Things Considered
Supermarket giant Woolworths has topped Coles in reporting an 8% rise in March quarter sales after its rival revealed a 6.5% rise of its own in its quarterly update last Friday.
Read MoreInflation No Bother as Woolies Steams Ahead
Woolworths, the country’s biggest retailer, has joined rival Coles in reporting a double-digit boost to profits amid the most inflationary period the sector has seen for four decades.
Read MoreWoolies Dips its Paw into the Specialty Pet Game
No booze, hotels or pokies and no food but more pets for Woolworths as it continues its move out of supermarkets into other areas of the $400bn a year plus retailing market.
Read MoreMajor Spill in NZ Food Aisle for Woolies
Woolies shares fell to a 52-week low Thursday on the back of a surprisingly weak performance from its supermarkets and a big profit downgrade for its NZ food business.
Read MoreRecord Revenue but Profits Flat for Woolies
Woolworths found profit-making a hard slog in 2021-22, with the retail giant only able to convert a 9.2% rise in group revenue to a 0.7% rise in net profit for the year to June 30.
Read MoreBond Street Bites: APRA, WOW, MYR
Two notable retirements in the local business world yesterday with the chairmen of both APRA and Woolworths hanging up the gold pen, while Myer upgraded its earnings forecasts.
Read MoreWoolies Takes Controlling Stake in MyDeal
Woolworths has offered to buy an 80% controlling stake in the online department store business MyDeal for $271 million, or $1.05 a share cash.
Read MoreWOW – UBS rates the stock as Sell
Sell rating retained. Target price rises to $36 from $34.
Read MoreWoolies Chief Calls for CPI-Adjusted Wage Rise
Woolworths chief Brad Banducci has broken ranks with other executives, calling for an increase in retail workers’ wages to keep up with the rapidly rising inflation across the industry.
Read MorePrice Check Problems Hit Woolies
Higher costs – especially at its core supermarkets business – hit Woolworths in the half year to December as Covid, labour shortages and supply chain problems impacted its operations.
Read MoreWOW – Morgans rates the stock as Hold
The target price slips to $36.65 from $37.85 and the Hold rating is unchanged.
Read MoreWesfarmers Makes a Stand with API Holding
Wesfarmers’ decision yesterday not to sell its 19% stake in API is seen by most market pundits as effectively being a blocking move against the bid from rival Woolworths.
Read MoreNew Normal Catches Up with Woolworths
Shares in Woolworths were whacked hard on Tuesday after the company revealed a shock first half earnings downgrade because of soaring Covid-related costs.
Read MoreWOW – Credit Suisse rates the stock as Underperform
The broker retains its Underperform rating and $31.84 target price.
Read MoreWoolworths Gatecrashes API Party
Shares in API soared more than 16% on Thursday to a high of $1.74 after Woolworths crashed Wesfarmers’ attempt to take control of the company.
Read MoreWoolies Numbers Register Poorly with Investors
Investors were not enthused about Woolworths’ September quarter update, despite the numbers looking good on paper thanks in part to another surge in online sales to a new high.
Read MoreOctober Brings Buyback Windfall for Income Investors
Plato’s Dr Peter Gardner looks at the recently-completed off-market buybacks by Commonwealth Bank and Woolworths, and specifically their tax implications for income investors.
Read MoreWoolies Further Increases Underpayments Shortfall
The $50 million top-up announced by Woolworths on Friday pushes the total bill for its underpayments to staff to $420 million, a not inconsiderable amount.
Read MoreWoolies Certainly Has a Type
Woolworths loves a banker on its board.
Read MoreWOW – UBS rates the stock as Neutral
UBS retains a Neutral rating and $39 target.
Read MoreWoolies Rewards Holders with Payout, Buyback
Shareholders in Woolworths have joined the ‘rivers of gold club’ that has already showered largesse on the likes of the Commonwealth Bank, Suncorp, the ANZ and NAB.
Read MoreTime to Click and Collect Another Tax-Effective Buyback
Plato’s Dr Peter Gardner breaks down the potential tax benefits for shareholders of the off-market buyback announced today by local retail giant Woolworths.
Read MoreWOW – Citi rates the stock as Neutral
Citi resumes coverage of Woolworths post the de-merger of Endeavour Group ((EDV)) with a Neutral rating and $37.60 target.
Read MoreWoolies Survives First Day without Endeavour
Woolies shares fell by around 11% on the first trading day without the Endeavour Group drinks business, after earlier being down 15%
Read MoreWoolies Left with Huge Spill in Aisle 21
A number of factors and circumstances have forced supermarket giant Woolworths to announce nearly $100 million in costs and impairments for the June 30 financial year.
Read MoreACCC Does 180, Clears Woolies’ PFD Bid
Woolworths will be allowed to buy control of food services company PFD after all, with the ACCC reversing an earlier preliminary ruling that the deal could lessen competition.
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