Bunnings killing Masters in the car park

This morning, Woolworths (ASX: WOW) announced growing losses from its Masters hardware stores. Whilst sales were up 24% to $930m, the chain lost $245.6m.Last week, Masters’ major competitor Bunnings revealed a profit of $1.1bn on sales of $9.5bn, up 11.6%. A car park in Lismore in northern NSW reveals the extent of Woolies’ problem.In February, Masters opened a new store in the town, right next door to Bunnings. This morning, I went to take a look (see above).The problem was obvious before entering the store. There were just 49 vehicles, only three of which were UTEs. Oddly, more than half...

This morning, Woolworths (ASX: WOW) announced growing losses from its Masters hardware stores. Whilst sales were up 24% to $930m, the chain lost $245.6m.

Last week, Masters’ major competitor Bunnings revealed a profit of $1.1bn on sales of $9.5bn, up 11.6%. A car park in Lismore in northern NSW reveals the extent of Woolies’ problem.

{{content.question}}

{{ twilioFailed ? 'SMS Code Failed to Send…' : 'SMS Code Sent…' }}

Hi {{ user.FirstName }}

Looks like you've already taken a free trial

Please enter your payment details

We have sent you a code via SMS to {{user.DayPhone}}

please enter this code below to activate your membership

We cannot send you a code via SMS to {{user.DayPhone}}

If you didn't receive SMS code please

SMS code cannot be sent due to: {{ twilioStatus }}

Please select one of the options below:

Looks you are already a member. Please enter your password to proceed

Please untick this box when using a public or shared device


Verify your mobile number to unlock a FREE trial

Please sign up for full access

Updating information

Please wait ...

  • Mastercard
  • Visa
Mastercard

The email address you entered is registered with InvestSMART.

Please login or select "Don't know password"

Please untick this box when using a public or shared device


Register as a new member

(using a different email)

Related Articles