One name, two retail giants: meet the other Woolworths

 In Australia, NewZealand
Woolworths might already be a household name in Australia, but local shoppers are going to get used to another, quite different company of the same name after South Africa’s Woolworths Holdings lobbed a $2.15 billion takeover for David Jones.
This is giant deal for Woolworths Holdings, which has a market capitalisation of $5.5 billion and annual revenues of $4 billion, compared with DJs’ revenue of $1.8 billion.
But the South African retail giant does not want for local knowledge and could have an ace in its pack in the form of chief executive Ian Moir.
Mr Moir is best known in the Australian market as the chief executive of Country Road, the upmarket clothing and homewares group in which Woolworths Holdings owns an 88 per cent stake.  Sydney Morning Herald – Read more…

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