Woolies boss Brad Banducci says there’s solid growth in the company’s food business, but like at rival Coles, shoplifting is a rising concern.
Supermarket giant Woolworths has increased its full-year profit to $1.6 billion and hiked its dividend, but a challenging outlook for its discount department store Big W highlights consumers’ caution in the cost-of-living crunch.
“We also expect the consumer environment to remain challenging, with consumers continuing to cut back on non-essential items,” he said. The June half “ended up below our initial expectations as customers cut back on discretionary items, particularly in the fourth quarter, and the sector became extremely competitive,” Banducci said.Like its ASX-listed rival Coles, Woolworths called out increasing levels of stock loss due to shoplifting at its stores in the face of the cost-of-living crisis.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
'Huge leap of faith': Small farms make big changes to survive — and aren't looking backWith neighbouring farms folding on Queensland's Scenic Rim, Kay and Dave Tommerup had to choose between closing or saving their fifth-generation dairy by radically changing how they did business.
Read more »
New Zealand man killed by 900kg bull nicknamed 'Big Boy'On a farm in the town of Mataura, on New Zealand&x27;s South Island, a man&x27;s body was spotted lying on the ground by a gate.
Read more »
Champ makes big title statement; KTM on a high despite Miller struggles: MotoGP winners and losersChamp makes big title statement; KTM on a high despite Miller struggles: MotoGP winners and losers
Read more »
Veteran leg-spinner Imran Tahir headlines latest batch of nominations for Big Bash Draft44yo South African leg-spinner eyeing long-awaited Big Bash League debut
Read more »
Intergenerational report about making ‘big shifts’ in economy and society work for AussiesTreasurer Jim Chalmers says the intergenerational report is about making “big shifts” in the economy and society work for Australians rather than against them. “Our population will grow more slowly, our people will live longer and healthier lives, and our care economy will become an even more central focus in the decades ahead,” Mr Chalmers said in a press conference on Monday. “What the report intends to do in a way which is a bit broader than the last couple, is to build our understanding of the five big shifts that are underway in our economy and our society.”
Read more »
Mass changes as exiled Roosters half on cusp of return; Broncos’ big Reynolds worry: Team TipsMass changes as exiled Roosters half on cusp of return; Broncos’ big Reynolds worry: Team Tips
Read more »