Woolworths Masters’ losses greater than expected

 In Australia, NewZealand, Woolworths
Woolworths has put the brakes on its loss-making home improvement business after revealing that losses in 2014 had exceeded previous guidance and conceding that the business would not break even in 2016 as planned.
Woolworths plans to open fewer Masters stores over the next two years and will not reach its 90-store target by the end of 2016.
It plans to open around 10 to 15 Masters stores a year for the next few years, adding to its existing base of 49 stores  Sydney Morning Herald – Read more…

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