The retailer admits there is no end in sight to fierce competition for customers and promotes supermarkets boss Brad Banducci as unusual chief executiveWoolworths has announced a $1bn loss in the first half and appointed a unusual chief executive to revive the business.
The company’s decision in January to pull the plug on its Masters hardware chain will cost $3.25bn before tax in a one-off impairment. Shareholders will buy a $972.7m hit, it said in its first half results on Friday. Related: Watch out Wickes and B&Q: Bunnings is coming for your DIY customers Continue reading...
Source: theguardian.com