It’s been a really tough three years at David Jones…— Ian Moir, CEO - Woolworths
As Chief Executive, you need to spend your time where it’s needed the most… We don’t have a CEO there [Australia]. I know the market well…— Ian Moir, CEO - Woolworths
Woolworths made a loss of R1.1 billion after tax for the year to 30 June 2019.
In the year to end-June 2018, the retailer lost R3.5 billion.
The company declared a final gross dividend of 98.5 cents per share (down 24.4%), bringing dividends for the year to 190.5 cents a share (down 20.3%).
Woolies is still suffering heavily in Australia, where it cut the valuation of David Jones to less than half of what it paid for it five years ago.
His company is compelling him to move to Australia to turn the business there around.
Listen to the interview in the audio below (and scroll down for more quotes from it).
We’re seeing online growing strongly…— Ian Moir, CEO - Woolworths
We’ve got costs to take out of the business… we’re very focussed, we’re very clear…— Ian Moir, CEO - Woolworths
We’ve got a great food business here [South Africa], and we want to replicate it in Australia… But we don’t want to rush in where angels fear to tread…— Ian Moir, CEO - Woolworths
…not trying to be too fashionable or too young…— Ian Moir, CEO - Woolworths
Get the 10 most-read articles of the week from Bruce Whitfield’s The Money Show, emailed to you every Friday morning:
Recommendedby NEWSROOM AI
The Money Show’s Bruce Whitfield interviews Roy Douglas, CEO at ADvTECH.
The Money Show’s Bruce Whitfield interviews Anoosh Rooplal, the liquidator at VBS Mutual Bank.
Consumers delay purchases, trade down to cheaper vehicles or buy used. Bruce Whitfield interviews Osman Arbee, CEO at Motus.
Have a credit card with FNB? You may want to check this out, warns consumer journalist Wendy Knowler.
The Money Show's Bruce Whitfield hosts a debate on NHI between Paul Theron (Vestact) and Russell Rensburg (Wits).
Bruce Whitfield interviews rapper Riky Rick about his attitude toward money (hopes and fears, successes and failures, etc.).