Wesfarmers chief warns Woolworths could win sales race
Wesfarmers chief executive Richard Goyder? has been "softening up" investors ahead of Coles’ interim result as the supermarket chain braces for arch-rival Woolworths to snatch the lead in quarterly growth for the first time in 30 quarters.
The discussions with investors and analysts are believed to have taken place in the past few months, where Coles boss John Durkan said Woolworths’ $1 billion investment in cutting its prices was inevitably going to alter the competitive field.
"[Mr] Durkan has been pretty open saying that if you spend $1 billion on price, of course there’s going to be an impact," one analyst said.
"Richard Goyder has told people Woolworths’ like-for-like [sales growth] will be better than Coles and there’s no doubt in my mind Woolworths will have crossed Coles. Sydney Morning Herald – Read more…
The discussions with investors and analysts are believed to have taken place in the past few months, where Coles boss John Durkan said Woolworths’ $1 billion investment in cutting its prices was inevitably going to alter the competitive field.
"[Mr] Durkan has been pretty open saying that if you spend $1 billion on price, of course there’s going to be an impact," one analyst said.
"Richard Goyder has told people Woolworths’ like-for-like [sales growth] will be better than Coles and there’s no doubt in my mind Woolworths will have crossed Coles. Sydney Morning Herald – Read more…
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