WATCH: What David Jones has cost Woolworths
Woolworths has slipped into the red due to a R6.9bn impairment of its Australian department store, David Jones. As a result, the company posted an annual loss of R3.5bn. In the domestic market, the company's fashion, beauty and home division remains an underperformer, with a 1.5% decline in sales and a 4% decline in gross profit. The food division, however, remains its star performer, with sales growth up 8.4%. CEO Ian Moir joined Business Day TV to discuss some of the details behind the numbers.
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