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WOW - Woolworths Group

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Gordon Cairns to retire as Chair with Scott Perkins announced as his successor

Woolworths Group today announces that Gordon Cairns will retire as Chair
following the Group’s Annual General Meeting on 26 October 2022.
Gordon Cairns said: “It has been a privilege to be the Chair of Woolworths Group
for the last seven years. I am proud of the work that the team and directors have
achieved together in transforming Woolworths Group and delivering for our
shareholders. Moreover, I am humbled to have been the Chair of a purpose-led
business dedicated to working towards a better tomorrow for our teams,
customers and the community.”
Scott Perkins, who has been a non-executive director at Woolworths Group for
eight years, has been appointed to succeed Gordon Cairns as Chair.
Gordon Cairns added: “We are fortunate to have someone of Scott’s ability and
experience, respected by his colleagues and management, to provide the
oversight required to allow the business to reach its full potential.”

DYOR

i hold WOW ( 'free-carried ' )

and in the last 5 years i have sold down 90% of the holding

since the new chairman has been a fixture as well ( 8 years on the board ) i don't think i will be buying more unless maybe they go under $10
 
WOW looking for a rebound north reaching key levels. Or will the market depression take over?
  • Key levels on the chart - consider taking trades from key support/resistance levels
  • Woolies falls under the Consumer Staples sector which is generally a defensive stock and therefore resistant to economic cycles including any upcoming recessions
  • Woolies can maintain their profit margins and pass on their costs to customers which provides protection for their bottom line.
 
Stockbailx said:
WOW looking for a rebound north reaching key levels. Or ............?
Click to expand...
WOW at low point for the year, and since Oct 2020.

Has posted a 1.8% in first quarter sales, with growth dragged down by its Australian Food businesses where sales fell moderately
............ but average prices surged 7.3 per cent due to double-digit inflation in fresh fruit and vegetables.

 
Right, so sales went up a bit in dollar value, but food prices went up by 7.3%.
Luckily for them the food is not the only thing they sell, otherwise one might come to the conclusion that in real terms , sales fell.
Mick
 
now i didn't read that fully ( despite holding WOW for the last decade )
but have they solved their driver shortage yet ??
mullokintyre said:
Right, so sales went up a bit in dollar value, but food prices went up by 7.3%.
Luckily for them the food is not the only thing they sell, otherwise one might come to the conclusion that in real terms , sales fell.
Mick
Click to expand...
sadly WOW sell ( or more correctly try to sell ) more than food

my quick glance came to the same conclusion as you ( sales in real terms looked weak )

i also note they had to correct the NZ results ( that is not such a good look )

i participate in the DRP , and anticipate buying no more WOW for quite a while, especially since EDV has been spun-off ( but i MIGHT actually tip some cash into EDV to go with the freebies , sometime in the future )
 
Good morning

Hmmmmm

Woolworths sold 98.5m or 5.5 per cent of Endeavour shares last night (13/12/22) in a block trade via UBS at $6.46 a share, representing a narrow 3.6 per cent discount to Endeavour's last traded price of $6.70.

Woolworths still holds a 9.1 per cent stake and has no current intention to undertake a further selldown in the short to medium term. The proceeds will be used for strategic investments and general corporate purposes, Woolworths says.

Not holding.

Have a safe and happy Christmas and prosperous new year.

Kind regards
rcw1
 
WOW sells down liquor and buys into a petshop, not my cup of tea when we are heading into a downturn, but I don't hold anymore so only a mild interest.

Woolies enters booming pet sector with $586m buy​

Woolworths boss Brad Banducci sees a huge opportunity in the pets space and has spent half-a-billion dollars to snap up a stake in Petspiration – owner of PETstock.
 
i hold WOW ( 'free-carried' ) and EDV ( courtesy of the demerger )

maybe RGN ( formerly SCP ) is the play here you would imagine they would get a chance at malls/centres where Pet Stock is a current , or future tenant

i also hold RGN ( at some cash risk )
sptrawler said:
WOW sells down liquor and buys into a petshop, not my cup of tea when we are heading into a downturn, but I don't hold anymore so only a mild interest.
Click to expand...
i still hold , but yes i agree , WOW doesn't have a great reputation with recent ( including Dick Smith Electronics ) growth moves

i used to have thousands of WOW between the inheritance , participation in the DRP and some extra buying but now hold less than 200 ( still DRPed )

i don't see the logic UNLESS there is increase ( horse and dog ) racing activity , more pet ownership as a substitute for children OR properties with acreage , becoming farmlets/homesteads
 
yep i'm of the same view as well, what happened to all that tripe about "simplifying our corporate structures and refocusing on our core groceries business" or some similar corpo-babble that was spouted at the time of the Endeavour demerger? conveniently discarded when it suits them to make room for their next pet project - pun fully intended.

admittedly the stock has been good to me over the years, i bought some about 2 decades ago when i first started working, but ever since the Masters fiasco they've been quite underwhelming. it was a core holding for much of my 20s, but it's just a satellite position now, it's done so poorly vs everything other than the non-CBA big banks since then.

and i've basically been forced to hold on thru all of their recent fumblings, since i bought it so long ago it sits in my individual holdings rather than my company trust, and i elected to not declare a deemed disposal when i moved overseas to avoid a sizable CGT hit. selling them now would mean copping punishing non-resident tax rates on the cap gains, so i don't really have any alternative but to keep holding on and pray that their latest experiment works out better than the Masters one did. which should be a pretty low bar to clear, but one just never knows.
 
the doubts crept in for me when i was given a Dick Smiths Electronics gift card , and actually spent a half an hour deciding how to spend the card ( unlike Jaycar's where i could probably fill a ute in the same time , spending extra cash in the process ) anyway the time looking and thinking raised plenty of questions on how the store was run ( strategy , and customers , not the semi-bored staff ) then there was the poker machine activist saga , when a limit on the machines was the obvious answer ( unless addicted to money-laundering revenue ) by the time of Masters and the hardware saga ... i knew it was time to take it off my top up list ( and boot it from my 'core-holding portfolio ' ) the sell-down came later , but sadly before the EDV spin-off , oh well

good luck share-holders , we must be just about due for a change of fortune
 
I'm quite well acquainted with this business and personally know the previous owners of one of their acquisitions.

It's a great business and I don't think even Woolworths could screw it up, especially if they retain current management.
 
well according to the ann. the management stays including keeping their shareholding in the business , and WOW assuming the outstanding debt and lease obligations .

i guess time will tell
 
Woolies must be feeling the Aldi squeeze and adopting their modus operandi.
IDNH.

Woolworths will close 250 of its 300 remaining in-store butcher counters, in a move that’s set to cut almost 500 jobs.
The supermarket giant informed staff of the measure on Thursday, revealing it will instead move its focus towards pre-packaged meat.

Thirty per cent of stores currently have a meat counter, which accounts for just four per cent of Woolworths’ meat sales.

In total, 489 roles will be scrapped, including 420 trade-qualified butchers and 69 skilled non-trade workers.

About 200 team members who work some hours in the butcher shop as well as other parts of the store will have their rosters adjusted to work solely in other departments.

The decision was made due to decreased customer demand for in-store butchers, Woolworths said in a statement.
 
My pick for the month.
Increasing prices and profits, price has risen but further to come.
 
after much discussion, a Metro-branded Woolworths outlet opened in Mosman this week.

with the opposition pitching at this level :
... I suspect the Metro will be selfselecting in terms of clientele.
 
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