Why Woolworths is battling
The war for market share is on as Checkers Sixty60 takes the lead and Shein and Temu deliver the goods
08 August 2024 - 05:01
Woolworths is struggling. The sale of David Jones in Australia was meant to unshackle the group and allow it to focus on the turnaround of its local fashion business. But this is taking longer than expected and even the group’s star performer — the Food segment — is not shooting the lights out.
Volumes are under pressure, and actual volume growth edged up only 1.1% in the Food business, where turnover grew 9% but price inflation at 7.9% eroded most of the gains. In the 53 weeks to end-June 2024, turnover and concession sales were up 11.2%...
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