Woolworths chief predicts profit decline

 In Australia, NewZealand, Woolworths

Woolworths’ CEO Michael Luscombe expects a sharp decline in its annual profit growth in fiscal 2012 even as food prices start to decline.

Weak consumer confidence will continue to grip retailers this year after anaemic trading conditions since May crimped Woolworths’ annual profit, Luscombe said during an interview with ABC TV on Sunday. Inside Retail – Read more…

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