Markets: Pulling at Woolies

Woolworths' stock will continue to suffer from its loss-making home improvement business, say Citigroup.

Woolworths has disclosed that its home improvement business, Masters, will lose $139 million in its 2013 financial year. That is higher than a budgeted $80 million loss.

At 1313 AEST Woolworths shares were down 5 cents, or 0.2 per cent, to $33.27, after earlier falling as much as 1.2 per cent to $32.91. The stock is down 1.5 per cent this week.

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