Woolworths

It says something about the market’s attitude towards Woolworths at the moment that updated guidance for net profit growth of 5%-6% compared to the previous 4%-6% has led to a fall in the company’s share price of over 1% – and that’s in a rising market. The market’s disappointment is due to an increase in the expected losses at the new Masters Home Improvement business in the 2013 financial year from $81m to $139m. The culprits are ‘overoptimistic sales budgets, relatively higher wage costs for new store openings and lower gross margins due to the sales mix’. It’s been no...

It says something about the market’s attitude towards Woolworths at the moment that updated guidance for net profit growth of 5%-6% compared to the previous 4%-6% has led to a fall in the company’s share price of over 1% – and that’s in a rising market.

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