Masters, Big W still Woolworths’ problem children

 In Australia, NewZealand, Woolworths
Three years ago an energised, less battle-scarred Grant O’Brien presented to the market his strategic vision for the supermarkets, liquor and merchandise giant Woolworths that he had just been handed the reins to by former boss Michael Luscombe.
His ambitions were lofty, with Mr O’Brien mapping out the earnings benchmark by which his tenure at Woolworths should be judged by investors, namely his intention to chase high single-digit sales growth as well as 10 per cent earnings per share growth.
Three years later and he is making some headway to that earnings finish line, with this morning’s full-year result which showed Woolworths net profit up 6.1 per cent to $2.45 billion, and sales up 5.9 per cent to $60.8 billion. Earnings per share was 5.2 per cent better on a normalised 52 week basis.
  Sydney Morning Herald – Read more…

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