Essential reading for retailers and suppliers in the home improvement market

Woolworths predicts return to profit

Published: 17 January 2008
Struggling high street retailer, Woolworths, has announced that it will return to profitability in the current year.
Woolworths predicts return to profit
But the declaration did nothing to ease investors fears, particularly as the company refused to publish like-for-like (lfl) sales numbers for the Christmas period.

Woolworths has in the past disclosed lfl sales for the six weeks to mid-January, but yesterday only revealed figures for the 49 weeks to January 12, which showed a 3.9% fall in lfl sales in its core retail division.

Chief executive, Trevor Bish-Jones, said in a trading update: "Christmas was a very challenging time for the group.

"We are pleased that the progress made across the group through this year is expected to lead to an improvement in profitability, including Woolworths Retail returning to profit."

Yesterday, shares in Woolworths plunged 20% to an all-time low of 8p.

Comments


(Your email address will not be published)
Already Registered?
Sign In
Not Yet Registered?
Register
Printable View E-mail Bookmark
*

What do you think?


Are you confident of strong garden sales this season?


Latest reader comments

re: B&Q invites suppliers to pitch at Innovation Open Day

Brian Eacersall
Hi B & Q innovations Team.I have already sent in an e-mail outlining my design using the request to become a supplier route.However I ...

re: Toolstation.com excels in Which? website survey

Muhammad idrees
Good service and price also good...

re: Mike Ashley calls Debenhams administration a “national scandal”

m orourke
How can senior management at debenhams stay in post whilst abdicating their responsibilies to a bunch of consultants to save the buisness ...

re: B&Q and Valspar partnership to "transform the paint market in the UK"

Tony Turner
A bit of context: first decorating undertaken in 1968, have continued to decorate at DIY and professional level ever since, Wife has ...

re: Builder wins Toolstation's prize draw pick-up

Brian Easton
Brilliant delivery, much help from Daniel and Shakil...

Most read stories