Woolworths nailed by business in Australia, makes a loss of R3.5 billion
The Money Show’s Bruce Whitfield interviews Woolies CEO, Ian Moir.
Woolworths made a loss of R3.5 billion in its 2018 financial year.
The R6.9 billion impairment of its Australian chain David Jones saw profits slump from the R5.4 billion it made in 2017.
Group turnover grew by 1.6% to R75 billion.
Listen to the interview in the audio below (and/or scroll down for quotes from it).
We were really impacted by the cost of the disruption at David Jones.Ian Moir, Woolworths
We’re doing the right things; they’re just hard to do.Ian Moir, Woolworths
We’ve got an excellent business in food… We made mistakes in women’s fashion that cost us…Ian Moir, Woolworths
We’re beginning to see sales above market…Ian Moir, Woolworths
We understand what we got wrong in clothing…Ian Moir, Woolworths
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