Woolies’ ambition ‘optimistic’

 In Australia, NewZealand, Woolworths

A UBS report has cast doubt on Woolworths boss Grant O’Brien’s ambition to double the supermarket group’s sale of ”private label” foods in the near term.

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In the report, retail analyst Ben Gilbert says the nation’s biggest retailer is likely to achieve only a 50 per cent increase in five years to still lag behind its international peers.

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He said the penetration of the generic food category in Australia remained below the global average, and less than half that of France, Germany and Britain, according to research group Datamonitor.

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