David jones
Woolworths profit falls as Australia charge hurts
The food and clothing group booked an impairment charge of A$437.4 million ($295.42 million) against David Jones, reducing the unit's valuation to about A$965...
The Money Show’s Bruce Whitfield interviews Woolies CEO, Ian Moir.
Woolworths Holdings reported a 15% drop in half-year profit on Thursday in part hurt by a hefty write-down charge on the value of its David Jones business in Australia.
Woolworths has endured a downturn in consumer spending due to its core market of affluent shoppers.
Woolworths said on Monday it would not sweeten its $2.1 billion takeover offer for Australia's David Jones.
Woolworths has offered to buy Solomon Lew out of Country Road at a massive premium.
Woolworths Holdings is set to buy Australias second-largest department store for $2bn.