Woolworths, pummelled in Australia, loses R4.86 billion

Woolworths. Picture: Facebook.

Woolworths made a loss of R4.86 billion in the 26 weeks to 24 December 2017.

The retailer was hurt by a R6.9 billion impairment of its Australian department store chain David Jones.

The Money Show’s Bruce Whitfield interviewed Woolworths CEO Ian Moir.

Listen to the interview in the audio below (and/or scroll down for quotes from it).

We kicked a couple of own goals...

Ian Moir, Woolworths

Fashion is fickle... We got women’s wear badly wrong.

Ian Moir, Woolworths

A great performance for our food business… the team has done an incredible job there…

Ian Moir, Woolworths

The clampdown on corruption… and the fiscally responsible Budget… everybody is starting to look up again… We’ve got a mountain to climb, but at least we can see it… We’ll see an improvement in discretionary spend as confidence returns…

Ian Moir, Woolworths

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