Woolworths Tipped to Report Heavy Loss on Back of Restructuring, Masters Exit

 In Aldi, Australia, Coles, NewZealand, Woolworths
When Woolworths reports its full-year results on Thursday, expect to see a loss of about $1 billion, analysts say, after restructuring costs and its exit from the disastrous Masters hardware business.
Credit Suisse analysts say that with a restructuring charge of $960 million and its exit from the Masters Home Improvement business being treated as a "discontinued operation", total impairments could hit $2.7 billion. That could leave Woolies with a statutory loss of around $1 billion.
Woolworths’ major shareholders have been impatient for Australia’s biggest supermarket chain to stitch up a deal for the disposal of its hardware assets. The company is expected to make some sort of announcement as part of its full-year results. Sydney Morning Herald – Read more…

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