EDITORIAL: New Woolworths CEO skips keeping up with the Joneses
21 September 2020 - 05:07
David Jones, Woolworths’s ill-considered Australian acquisition, is in irreversible structural decline, making the job of Roy Bagattini, the new boss of the Cape Town-based company, almost impossible.
In an earnings report last week Bagattini, who took over from Ian Moir about eight months ago, spoke little about fixing David Jones’s operations. He is devoting more of his energies to its capital structure, which threatens to drag Woolworths’s profitable upmarket clothing chain into a potentially messy collapse. ..
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