WOW - Woolworths Group

[sptrawler]

i exited EDV completely January this year

i worked for WOW back in 1972 , and it was a three-ring circus back then and has now descended into a seven-ring circus ( even after the hardware debacle ) will it shed Big W next ?

Yes I picked up WOW, when they were thrown out with the baby bath water, when Adelaide steam ships went belly up.
Sold them recently and used the money to buy AFI, the grocery business is way above my pay grade the wife took over that portfolio years ago.
Not that I want it back, the art of a happy marriage is working to your strengths and acknowledging your weaknesses.

 

[divs4ever]

just skimmed through the report and was unimpressed

i wonder how the market will react

i did note the differences in concerns between Oz and NZ ( which already admits it is in recession )

 

[Dona Ferentes]

Woolworths CEO Brad Banducci has made the rare admission that arch rival Coles had “out-traded” the supermarket giant during the March quarter.
Woolworths’ sales growth was dented by a potent mix of poorly received promotions, supply disruptions and a skittish consumer focused on sticking to a budget.

The underwhelming quarterly sales widened the performance gap between the retail giant and rival Coles and missed analyst expectations.

.
and sold half the EDV rump

 

[mullokintyre]

WOW was another of defensive picks in the yearly comp.
My left flank is now open to attack.
Fail.
Mick

 

[divs4ever]

DJ E-Grocer Takeoff Technologies Files for Bankruptcy to Sell Assets -- WSJ	WOW $30.98 $0.00 (0.0%) $31.93$30.06
31 May 2024 03:27:02
1 View 0 comments
By Becky Yerak Takeoff Technologies, a provider of automated systems for grocery chains, has filed for chapter 11 bankruptcy and plans to sell its assets, possibly to customers Albertsons, Woolworths and ShopRite. Founded in 2016 by former grocery executives, the private company said Thursday it faced a cost structure that doesn't match its revenues because it hadn't achieved enough scale to become profitable. Grocers that have used Takeoff's technology are offering to provide $9.6 million in financing to help the Waltham, Mass.-based company continue operating its business during bankruptcy. The proposed financing, which must be approved by the U.S. Bankruptcy Court in Wilmington, Del., gives the grocers the right to use the debt that would be owed to them as currency in an expected process to sell Takeoff's assets. The business involves selling and maintaining equipment and its proprietary software for small robotic warehouses, called micro-fulfillment centers, used at grocery stores. Albertsons is among the food retailers that has partnered with Takeoff to develop the centers to improve its delivery and online-order business. At its peak, the company had more than 300 employees and generated more than $40 million in annual revenue. But it suffered operating losses totaling roughly $120 million in 2022 and 2023 due to the cost pressures "associated with an early-stage software company and the customary growing pains," Deputy Chief Restructuring Officer Brett Anderson said in a declaration filed in bankruptcy court. Shortly before the bankruptcy filing, Takeoff was down to roughly 165 employees. Its biggest equity investor is Forrestal Capital, a family office based in Florida. The company is represented in its bankruptcy by law firms Young Conaway Stargatt & Taylor and Sheppard Mullin Richter & Hampton, and by financial and restructuring adviser Huron Consulting. The cases have been consolidated under number 24-11106 and assigned to Judge Craig Goldblatt. Write to Becky Yerak at becky.yerak@wsj.com (END) Dow Jones Newswires May 30, 2024 13:27 ET (17:27 GMT)

given the information source it might be prudent to check if 'Woolworths' is the company operating in Australia , or the US company ( and unrelated )

 

[sptrawler]

Woolworths CEO Brad Banducci has made the rare admission that arch rival Coles had “out-traded” the supermarket giant during the March quarter.
Woolworths’ sales growth was dented by a potent mix of poorly received promotions, supply disruptions and a skittish consumer focused on sticking to a budget.

The underwhelming quarterly sales widened the performance gap between the retail giant and rival Coles and missed analyst expectations.

.
and sold half the EDV rump

Only anecdotal, but WOW used to be the goto shop for the wife, now it's Aldi followed by Coles, yet WOW is still by far the closest shop distance wise.
When I asked her why, she says it was because of the blatant price gouging during and just after covid, she thought they took it to a whole new level.
The public is fickle, but has long memories.

 

[Dona Ferentes]

Only anecdotal, but WOW used to be the go-to shop....
The public is fickle, but has long memories.

Woolies converted our local shop from supermarket to Metro. Locals not happy. And took out a failed competitor in next suburb, also Metro.

I don't want cardboard sandwiches.

Full sized Coles is 6km away, so it's a weekly trolley fill now.

 

[sptrawler]

Woolies converted our local shop from supermarket to Metro. Locals not happy. And took out a failed competitor in next suburb, also Metro.

I don't want cardboard sandwiches.

Full sized Coles is 6km away, so it's a weekly trolley fill now.

Yes the wife is a good source of unbiased feedback, a very logical and methodical person, very little emotion involved in her decision making.
So if she travels further to buy the groceries, it has to be cheaper, she has no brand loyalty.
It's a bit of a shame, when WOW was spun out of Adelaide steamships, they really blew Coles away and were a great buy at $2.40.
Obviously bloatware and complacency has crept in, I'm certainly happy with my decision to offload them a while back and buy LIC's with the money.

 

[divs4ever]

Yes the wife is a good source of unbiased feedback, a very logical and methodical person, very little emotion involved in her decision making.
So if she travels further to buy the groceries, it has to be cheaper, she has no brand loyalty.
It's a bit of a shame, when WOW was spun out of Adelaide steamships, they really blew Coles away and were a great buy at $2.40.
Obviously bloatware and complacency has crept in, I'm certainly happy with my decision to offload them a while back and buy LIC's with the money.

i disagree , your wife is very biased and even more importantly voting with her wallet ( it is fine to be truthful and biased in my world )

however i do agree with her choices , my shopping is Coles , IGA ( MTS ) , TRS and Aldi in that order

i hold WOW , COL and TRS

 

[mullokintyre]

WOW went up this month when the market went down, so kinda follows my defencsive stock attitude to this one.
Still not in the green yet, but now losses halved.
Has kept my overal position in yearly comp in the green (just).
Mick

 

[mullokintyre]

Just when I was starting to think that WOW was getting some clear air, along comes a little more adverse publicty.
From Evil Murdoch press

The ten year chart for WOW sees it up barely 10% over that ten year period.

Mick

 

[finicky]

Become an extremist and hold some entity legally liable for not adjusting to your whims.

Held

Did you bring a bag?

 

[Garpal Gumnut]

Just when I was starting to think that WOW was getting some clear air, along comes a little more adverse publicty.
From Evil Murdoch press

View attachment 180378
The ten year chart for WOW sees it up barely 10% over that ten year period.
View attachment 180380

Mick

I must keep an eye on the Sydney Court List.

Attending that trial, if it ever gets that far, would be quite ... can't find a word that won't get me in trouble ... quite ... quite interesting.

gg

 

[rnr]

Woolworths gradually closing the overhead gap.......only $1.24 to go!

 

[divs4ever]

Bold new Woolworths' checkout 'experience' coming to all new stores​

Bold new Woolworths' checkout 'experience' coming to all new stores

The bold new plan is set to address major changes in customers' shopping habits.

au.yahoo.com

i hold WOW ( 'free-carried' ... sold down 90% of the inherited holding )
)

a blatant advertorial dressed up as a cover-up for declining customers ( and probably increasing theft )

as a shareholder all i see is more expenditure coming fast

*** The Woolworths spokesperson said in some stores express lanes may have been removed to make way for the new format ***

the only ones i ever use on the rare occasions i shop there , because i almost never do a full shop there

 

[finicky]

Shut up Divs. I'm eagerly looking forward to the bold new Woolworths' checkout experience.

HELD and
Holding

 

[TimeISmoney]

"We are seeing more frequent, smaller basket sizes, and a strong customer preference for a quicker and easier self-serve checkout experience," the spokesman told Yahoo.

Secret squirrel code for shoppers waiting for items to come on discount.

 

[divs4ever]

Shut up Divs. I'm eagerly looking forward to the bold new Woolworths' checkout experience.

HELD and
Holding

normally shop at COL ( i hold courtesy of the WES demerger ) mostly , with IGA ( i don't hold MTS ) and Aldi 3 rd pick and TRS ( i hold ) 4th

good luck you are very unlikely to bump into me at one of them

 

[Dona Ferentes]

normally shop at COL ( i hold courtesy of the WES demerger ) mostly , with IGA ( i don't hold MTS ) and Aldi 3 rd pick and TRS ( i hold ) 4th

good luck you are very unlikely to bump into me at one of them

nobody cares what you hold. I don't shop on Pensioner Thursday .

 

[divs4ever]

nobody cares what you hold. I don't shop on Pensioner Thursday .

i don't normally shop on Thursday

and as a former WOW employee , albeit 50 years ago , i can point out several backward steps over that time