Woolies under the hammer

Woolworths’ shares have slipped amid disappointment in Masters and increasing competition, but it has the strength to overcome these problems.

A recent article in the Financial Review noted that Australia’s banks are the most profitable among developed market economies, as measured by interest margin. If you put together a similar table for the world’s biggest grocery retailers (or look at ours in Table 1) you’d find Woolworths at the top.

Sure, Walmart runs it close in terms of earnings before interest and tax (EBIT) margin and Costco pips it for return on capital employed (ROCE), but taking it all together it would be hard to argue against good ’ol Woolies.


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