BUSINESS DAY TV: Woolworths is ‘doing right by our customers’
Woolworths CEO Ian Moir discusses half-year results, which show pressure on a number of fronts, and why he has maintained the dividend in tight times.
Ian Moir is Woolworths CEO. BUSINESS DAY TV: Woolworths’ first-half results are a far cry from recent years’ performances, with the retailer posting a drop of 4.3% in headline earnings per share (HEPS), a 6.7% rise in turnover and return on equity of just under 23%. It’s held the dividend though at 133c and joining me now on the line is CEO Ian Moir. Ian ... to what extent were the results a reflection of maybe some bad fashion offerings that Woolworths has had over the first half and to what extent simply a stressed consumer environment? IAN MOIR: I would say it’s more due to the stressed environment and the reason I say that is we’re taking market share both in clothing and in foods. So I think we’re doing the right thing by our consumers, our prices were good, competitive offering, our clothing business was fashionable and well-priced and our food business went from strength to strength, it’s a good offer and we improved our values. We invested more in price, in everyday low pric...
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