AUSTRALIAN OPERATIONS
More pain for Woolworths shareholders as retailer slashes debt in Australia
David Jones has been a drag on Woolworths’ shares since the business began to stumble in 2016
30 August 2019 - 05:10
Woolworths shareholders, who have seen their investment in the retailer more than halve in just under four years, will have to forsake some of their dividends as part of the company’s plan to slash debt at its Australian operations.
SA’s biggest general retailer, with a market capitalisation of R56.5bn, plans to reduce debt there by more than 50% as the high-end retailer eyes a turnaround of its struggling David Jones chain...
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