Woolworths Ltd expects its new venture into hardware stores to be earnings positive from the outset and says there is a large opportunity for growth, according to its chief executive Michael Luscombe.
On Tuesday, Woolworths announced it was entering the $24 billion Australian hardware market with a takeover bid for Danks Holdings Ltd, and was forming a joint venture with the second-largest US home improvement chain Lowe's Companies Inc.
The company booked a full-year profit of $1.8 billion on Thursday, on the back of strong earnings from its supermarket sector and retailer Big W.
No comments:
Post a Comment