AUSTRALIA: Woolworths posts higher H2 profit
Australian supermarket group Woolworths has reported a 12% increase in second-half profit despite tough competition from rival Coles Myer.
The company reported net profit of A$290m (US$208.8m) for the six months to 27 June, compared to $258m in the year-ago period.
Woolworths also announced that it expects chief executive Roger Corbett to stay on in that position within the company for another two years. Corbett announced that Michael Luscombe would become head of the company's supermarket division, replacing Tom Flood, who is leaving the company.
Woolworths currently has a market share of around 38%, compared to Coles Myer's 32%.
In the second part of this week's focus on the Australian food retail market, David Robertson looks at Woolworths' main rival, Coles Myer, which accounts for around 16% of all retail spending in Austr...
With 76% of Australia's food retail market, just two companies, Woolworths and Coles, dominate the region. In a two-part review, David Robertson looks at both supermarket chains. The first article wil...
Australian retailer Coles Myer has reported annual sales up 13.3% to A$36.6bn (US$28.1bn) and said it is considering selling its Myer department stories....
Supermarket chain Woolworths has today (Friday) announced a sharp rise in sales for the year to 26 June, bolstered by strengthening food and liquor sales and acquisitions....
Supermarket chain Coles Myer has agreed to support a food industry proposal to promote the benefits to consumers of buying Australian-grown produce, according to the Age newspaper....
Supermarket chain Woolworths Ltd has refused to comment on reports that it is considering the sale of its A$1bn (US$753m) chain of national distribution centres, according to the Australian Associated...
Retailer Foodland has announced a delay in documents needed to complete the process of its demerger and sale to Woolworths and Metcash....
A charter promoting fair competition between potential buyers of independent supermarkets has started, Australian Competition and Consumer Commission chairman, Graeme Samuel, has announced....
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