Woolworths. Picture: JAMES OATWAY
Woolworths. Picture: JAMES OATWAY

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.

Woolworths CEO Ian Moir talks to Business Day TV about the group's full-year results