Woolworths: Interim result 2016

Woolworths' result was poor and there’s much more to do. But the appointment of a new managing director is another step in the right direction.

It’s safe to say Woolworths’ new managing director, Brad Banducci, won’t be getting a Christmas card from Lowes this year. On Friday Woolworths wrote down various items related to its home improvement joint venture with Lowes – which includes Masters – to the value of $3.2bn.

As a result Woolworths reported an interim loss of almost $1bn, its first loss since listing in 1993. But more on that shortly.

{{content.question}}

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

If you didn't receive SMS code please

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

Please sign up for full access

Updating information

Please wait ...

  • Mastercard
  • Visa

Related Articles