How Masters became a DIY disaster for Woolworths

Cost blowouts at its Masters business have forced Woolworths to concede that its strategy for the hardware sector was highly flawed. Ongoing losses will only further undermine its credibility.

Woolworths' Grant O’Brien has confirmed what the market anticipated and what shareholders feared. Its attempt to gate-crash the hardware sector and challenge Wesfarmers’ Bunnings Group’s dominance has been a credibility-undermining debacle, with losses from the Masters business continuing to blow-out.

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