Woolies still learning with Masters

Judging by a lot of the commentary in the press, you’d think setting up a multi-billion dollar retail business was a simple matter. You build a bunch of stores, fill them with goodies and wait for the customers to come. But Woolworths has always said that establishing its Masters business was going to take patience and that they’d be learning on the way, which is why it teamed up with US Home Improvement giant Lowe’s.Perhaps management’s mistake was to disclose its targets for the business, but such is the pressure from the financial community. Now they’ve been missed (again) – 2014...

Judging by a lot of the commentary in the press, you’d think setting up a multi-billion dollar retail business was a simple matter. You build a bunch of stores, fill them with goodies and wait for the customers to come. But Woolworths has always said that establishing its Masters business was going to take patience and that they’d be learning on the way, which is why it teamed up with US Home Improvement giant Lowe’s.

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