Tag: WOW

Woolworths (WOW) shares hit a 52 week low in trading yesterday as the great November sell off in the country’s biggest retailer continued.

Shares in Woolworths (WOW) took another pounding yesterday as investors continued to reassess the form of the country’s biggest retailer in the wake of the disappointing first quarter sales performance.

Momentum in the sales battle between Coles and Woolies moved firmly in favour of Coles after Woolworths (WOW) reported a surprisingly weak set of first quarter figures yesterday.

In a big warning for retailers large and small about losing your way and not responding to market threats until too late, Tesco, the UK’s biggest chain store, has been forced to slash interim dividend 75% as it faces up to a 900 million pound ($A1.6 billion) fall in trading profits in 2015.

Friday saw a trio of retailers release their 2013-14 results – one stood out, Harvey Norman (HVN), one was an expected loss – Noni B (NBL) and one, a big profit from Woolworths (WOW), failed to enthuse investors.

Woolworths (WOW) indulged in a nice example of spin yesterday, separating the long tipped bad news update on the costly foray into hardware from the annual profit and sales report at the end of the month.

Here’s the one retail manager that Woolworths, struggling with its costly foray in hardware, should have kept.

Even though Woolworths (WOW) managed to at least match Coles’s sales growth (and perhaps top it on one measure), the market was unimpressed and sold off the shares by more than 2% in yesterday’s weaker market.

It wasn’t the most startling of results from Woolworths (WOW) this morning – more like one of fair to average quality with some good spots, and a couple of blemishes.

Leading retailer, Woolworths (WOW) is on track for another record profit of more than $2.5 billion this year after reporting solid second quarter and half year sales figures yesterday.

It was a standard first quarter sales update from major retailer Woolworths (WOW) without a concern for investors, judging by the reaction in the share price.

Shares in the country’s biggest retailer, Woolworths (WOW) were easier all day yesterday after the release of mixed 4th quarter and full year sales data.

Confession day for Woolworths (WOW), with the country’s biggest retailer finally giving in to mounting pressure from analysts and shareholders and revealing the size of the losses its Master’s hardware adventure is racking up.

As expected, Woolworths’ interim profit was hit by the $300 million charge to cover the cost of restructuring and selling the Dick Smith chain of consumer electrical stores, but the trading result wasn’t too hot either.

In one respect it was a clever bit of marketing by Woolworths yesterday to announce the restructuring and sale of its Dick Smith consumer electronics chain at the same time as it revealed weak sales figures, especially from its core Australian supermarkets and liquor business in the December quarter and half year.

According to an advance copy of the Woolworths’s annual report, the about to retire CEO Michael Luscombe took a $2.6 million pay cut in the 2011 financial year, but still managed to sound confident about the retailer’s outlook, despite its toughest year for more than a decade.

It shouldn’t have been all that unexpected that the guidance for the current 2012 financial year from giant retailer Woolworths would not be up to its previous high levels of sales and profit growth.

More of the same for the year ahead was the call from major retailer Woolworths yesterday in the wake of the release of the financial year and 4th quarter sales figures.

Shares in supermarket giant, Woolworths Ltd bounced around yesterday as investors struggled with the third quarter sales update.

Coles Group’s fierce price cutting counter attack in the past year seems to have resulted in Woolworths’ CEO Michael Luscombe retiring.

Woolworths, the country’s most successful retailer, confirmed yesterday that it had not been able to withstand the quadruple impact of weak consumer spending, the stronger dollar, the poor weather (floods and heavy rain) in the closing three months of 2010, the Christchurch earthquake last September and increased competition from rival Coles.

Amid the mining and petroleum quarterly reports, Woolworths, Australia’s largest supermarket chain, revealed a fairly dull first quarter effort that failed to impress the market.

Woolworths shares eased yesterday after the retailer revealed it had completed its mammoth $704 million share buyback.

Nearly two weeks ago, Woolworths revealed a $700 million share buyback and yesterday it also revealed a $900 million capital raising by way of a property sell off.

There’s nothing like a big, rich share buyback, a higher dividend and confidence about the coming year to erase lingering thoughts among investors large and small that a major company may have lost its competitive spark in the face of a revitalised rival.

Another bad day for Woolworths’ shares yesterday.

Shares in Woolworths weakened yesterday after Australia’s largest retailer revealed another quarter of slowing sales growth, especially in its key Australian supermarkets chain.

Woolworths has blamed the absence of federal government stimulus spending for the fall in sales growth and the actual falls in its Big W and consumer electronics businesses in the March quarter.

Woolworths shares finished 2% lower yesterday after the company revealed second quarter and first half sales that just missed some market estimates.