26
Fashion Jobs
BEST SELLER
Payroll Coordinator Slovenia
Permanent · LJUBLJANA
JACK & JONES
Sales Representative Jack & Jones Slovenia
Permanent · LJUBLJANA
INDITEX
Svetovalec za Prodajo / Blagajnik (m/ž)
Permanent · KOPER
INDITEX
Svetovalec za Prodajo / Blagajnik (m/ž)
Permanent · LJUBLJANA
INDITEX
Svetovalec za Prodajo / Blagajnik (m/ž)
Permanent · CELJE
BEST SELLER
Business Developer
Permanent · LJUBLJANA
BEST SELLER
Finance Business Partner
Permanent · LJUBLJANA
NAME IT
Sales Representative Name IT Slovenia
Permanent · LJUBLJANA
SELECTED FEMME/HOMME
Sales Representative Selected Slovenia
Permanent · LJUBLJANA
VERO MODA
Sales Representative Vero Moda Slovenia
Permanent · LJUBLJANA
JACK & JONES
Sale Assistant (Full Time) Jack & Jones City Park Ljubljana / Slowenien
Permanent · LJUBLJANA
JACK & JONES
Shop Manager (Full Time) Jack & Jones City Park Ljubljana / Slowenien
Permanent · LJUBLJANA
SPORTS DIRECT
Prodajalec - Sports Direct - Ljubljana
Permanent · LJUBLJANA
C&A
Prodajni Svetovalec 808 Koper, 40h
Permanent · KOPER
H&M
Prodajalec (m/ž) - Sales Advisor 40h
Permanent · MURSKA SOBOTA
SPORTS DIRECT
Prodajalec - Sports Direct, Btc
Permanent · LJUBLJANA
H&M
Prodajalec (m/ž) - Sales Advisor
Permanent · LJUBLJANA
JACK & JONES
Sale Assistant (Fulltime) Jack & Jones Celje City Center/Slowenien
Permanent · CELJE
JACK & JONES
Shop Manager (Fulltime) Jack & Jones Celje City Center/ Slowenien
Permanent · CELJE
JACK & JONES
Sale Assistant (Fulltime) Jack & Jones Planet Koper/Slowenien
Permanent · KOPER
JACK & JONES
Store Manager (Fullime) Jack & Jones Planet Koper / Slowenien
Permanent · KOPER
C&A
Prodajni Svetovalec 808 Koper, 40h
Permanent · KOPER
By
Reuters
Published
Aug 25, 2016
Reading time
2 minutes
Download
Download the article
Print
Text size

South African retailer Woolworths reports 8.9 pct rise in FY profit

By
Reuters
Published
Aug 25, 2016

Woolworths Ltd, Australia's biggest grocer by sales, posted its first annual loss since listing and slashed its dividend following write-offs from an ill-fated hardware business that had become a major drag on earnings.


Woolworths


The company on Thursday reported a net loss of A$1.2 billion ($913.6 million) for the year to June 26, compared with a net profit of A$2.1 billion the previous year. The loss included a one-off charge of A$1.8 billion to quit a hardware joint venture with U.S.-based Lowe's Companies Inc.

The 92-year-old company's shares jumped 7 percent in early trading, in a weaker overall market, as investors cheered the exit from the loss-making Masters hardware chain. The stock is still down 10 percent from a year ago.

"We expect trading conditions to remain highly competitive in FY17 but are confident that we have a clear plan and set of priorities," said Chief Executive Officer Brad Banducci, who started in the role this year after his predecessor quit amid controversy over the hardware venture.

The result underscores the multiple pressure points on a company long seen as resilient to economic volatility: Australia's home improvement market was not big enough to accommodate it, while new competition from budget grocery players like Germany's ALDI Inc has hit its supermarkets.

A foray into fuel sales via a partnership with service station operator Caltex Australia Ltd has also led to a strain on earnings since the global oil price sent bowser prices plummeting.

Analysts viewed the hardware business as a key reason it was unable to compete on supermarket prices with new cut-price European rivals and its domestic peer, Wesfarmers Ltd-owned Coles.

Sales of food slipped 0.2 percent to A$34.8 billion, reflecting the company's moves to cut shelf prices and win back market share.

In a sign the supermarket war is not just hurting Woolworths, a day earlier Wesfarmers posted its worst profit in 15 years, partly due to grocery price cuts.

Woolworths petrol sales slumped 18.1 percent.

Woolworths declared a final dividend of 33 cents, down from 72 cents the previous year.

$1 = 1.3135 Australian dollars
 

© Thomson Reuters 2024 All rights reserved.

Tags :
Retail