* . *
  • About
  • Advertise
  • Privacy & Policy
  • Contact
Wednesday, October 22, 2025
Earth-News
  • Home
  • Business
  • Entertainment
    AMC brings first new Dolby Experience to Gwinnett since 2017 – Wyoming News Now

    AMC Launches First New Dolby Experience in Gwinnett Since 2017

    Hetzel Design: blending architecture and entertainment – Blooloop

    Hetzel Design: Where Architecture and Entertainment Unite in Perfect Harmony

    Country music legend rushed to hospital year after heart surgery. Here’s what we know – PennLive.com

    Country Music Legend Rushed to Hospital One Year After Heart Surgery – What’s Happening Now?

    Strictly Come Dancing results: Chris Robshaw is eliminated while drag queen La Voix escapes dance-off – Yahoo

    Strictly Come Dancing results: Chris Robshaw is eliminated while drag queen La Voix escapes dance-off – Yahoo

    Placer County town of Loomis considers entertainment zone for downtown – CBS News

    Loomis Unveils Thrilling New Entertainment Zone to Revitalize Downtown

    CT Culture Corner: Robert Redford films to watch – CT Insider

    CT Culture Corner: Robert Redford films to watch – CT Insider

  • General
  • Health
  • News

    Cracking the Code: Why China’s Economic Challenges Aren’t Shaking Markets, Unlike America’s” – Bloomberg

    Trump’s Narrow Window to Spread the Truth About Harris

    Trump’s Narrow Window to Spread the Truth About Harris

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Trending Tags

    • Trump Inauguration
    • United Stated
    • White House
    • Market Stories
    • Election Results
  • Science
  • Sports
  • Technology
    A look into new technology at Columbia University that could help prevent a dangerous pregnancy complication – ABC7 New York

    A look into new technology at Columbia University that could help prevent a dangerous pregnancy complication – ABC7 New York

    Office Technology: Dealers’ Managed IT Revenue up Nearly 30% – The Cannata Report –

    Office Technology: Dealers’ Managed IT Revenue up Nearly 30% – The Cannata Report –

    3 E Network Technology Group Limited Closes $1.5 Million Convertible Promissory Note Offering – Quiver Quantitative

    3 E Network Technology Group Limited Closes $1.5 Million Convertible Promissory Note Offering – Quiver Quantitative

    3 Technology Stocks to Buy Now – Yahoo Finance

    3 Must-Buy Tech Stocks You Can’t Afford to Miss Right Now

    ‘New frontier’: Austin leaders start discussions on air taxi technology – KXAN Austin

    Austin Leaders Ignite Exciting Conversations on the Future of Air Taxi Technology

    How a Gemma model helped discover a new potential cancer therapy pathway – blog.google

    How a Gemma Model Revealed a Breakthrough Pathway for Cancer Treatment

    Trending Tags

    • Nintendo Switch
    • CES 2017
    • Playstation 4 Pro
    • Mark Zuckerberg
No Result
View All Result
  • Home
  • Business
  • Entertainment
    AMC brings first new Dolby Experience to Gwinnett since 2017 – Wyoming News Now

    AMC Launches First New Dolby Experience in Gwinnett Since 2017

    Hetzel Design: blending architecture and entertainment – Blooloop

    Hetzel Design: Where Architecture and Entertainment Unite in Perfect Harmony

    Country music legend rushed to hospital year after heart surgery. Here’s what we know – PennLive.com

    Country Music Legend Rushed to Hospital One Year After Heart Surgery – What’s Happening Now?

    Strictly Come Dancing results: Chris Robshaw is eliminated while drag queen La Voix escapes dance-off – Yahoo

    Strictly Come Dancing results: Chris Robshaw is eliminated while drag queen La Voix escapes dance-off – Yahoo

    Placer County town of Loomis considers entertainment zone for downtown – CBS News

    Loomis Unveils Thrilling New Entertainment Zone to Revitalize Downtown

    CT Culture Corner: Robert Redford films to watch – CT Insider

    CT Culture Corner: Robert Redford films to watch – CT Insider

  • General
  • Health
  • News

    Cracking the Code: Why China’s Economic Challenges Aren’t Shaking Markets, Unlike America’s” – Bloomberg

    Trump’s Narrow Window to Spread the Truth About Harris

    Trump’s Narrow Window to Spread the Truth About Harris

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Trending Tags

    • Trump Inauguration
    • United Stated
    • White House
    • Market Stories
    • Election Results
  • Science
  • Sports
  • Technology
    A look into new technology at Columbia University that could help prevent a dangerous pregnancy complication – ABC7 New York

    A look into new technology at Columbia University that could help prevent a dangerous pregnancy complication – ABC7 New York

    Office Technology: Dealers’ Managed IT Revenue up Nearly 30% – The Cannata Report –

    Office Technology: Dealers’ Managed IT Revenue up Nearly 30% – The Cannata Report –

    3 E Network Technology Group Limited Closes $1.5 Million Convertible Promissory Note Offering – Quiver Quantitative

    3 E Network Technology Group Limited Closes $1.5 Million Convertible Promissory Note Offering – Quiver Quantitative

    3 Technology Stocks to Buy Now – Yahoo Finance

    3 Must-Buy Tech Stocks You Can’t Afford to Miss Right Now

    ‘New frontier’: Austin leaders start discussions on air taxi technology – KXAN Austin

    Austin Leaders Ignite Exciting Conversations on the Future of Air Taxi Technology

    How a Gemma model helped discover a new potential cancer therapy pathway – blog.google

    How a Gemma Model Revealed a Breakthrough Pathway for Cancer Treatment

    Trending Tags

    • Nintendo Switch
    • CES 2017
    • Playstation 4 Pro
    • Mark Zuckerberg
No Result
View All Result
Earth-News
No Result
View All Result
Home Business

Woolworths expect 42 percent drop in earnings for last six months

January 29, 2024
in Business
Woolworths expect 42 percent drop in earnings for last six months
Share on FacebookShare on Twitter

Navigation for News Categories

Countdown Richmond with new Woolworths signage.

File photo.
Photo: Supplied

The earnings for the country’s second biggest supermarket chain, Woolworths, have taken a hit because of weaker trading and the costs of rebranding from Countdown, forcing its Australian owners to take write down the value of the business.

The parent company said its pre-tax earnings were expected to be down about 42 percent to $71 million for the six months ended December.

“The trading performance in New Zealand Food has continued to be challenging,” Woolworths Australia said in a stock exchange statement.

It said there had been progress in the business with sales improving in rebranded stores, new pricing strategies, and a revamping of its rewards and loyalty scheme.

The rebranding and stores upgrading programme has cost $13m to date.

“Due to a weaker medium-term market outlook, the time for the transformation initiatives to reach full potential, and the impact of higher interest rates on discount rates, it is prudent to review the carrying value of the goodwill on the balance sheet that was booked as part of Woolworths Group’s original acquisition of Foodland’s New Zealand business.”

Woolworths bought the Foodtown supermarket chain from Foodland in 2005, and put a goodwill value of $2.3 billion on the business, which would now be written down by $1.6b to $700m.”

Goodwill represents the value of intangible assets such as intellectual property, and brand recognition of its brand, which are not easily valued.

Woolworths Group chief executive Brad Banducci said it remained confident about the prospects for its New Zealand operation and the rebranding programme.

“While the short-term performance has been impacted by a variety of factors and the speed of improvement remains uncertain, we are seeing early positive signs from our Kiwi customers as our transformation gathers momentum.”

The supermarket sector has been shaken up in the past year by new rules to improve competition in wholesale operations, clarify and simplify pricing and promotions, good faith bargaining with suppliers and a code of conduct, monitored by a new regulator, the Grocery Commissioner.

Tex Edwards of Monopoly Watch, a public policy group established to examine New Zealand’s supermarket industry, said Woolworths NZ’s supermarket business was taking action ahead of what appeared to be the inevitable break-up of the Woolworth’s duopoloy with Foodstuffs.

Edwards said the move was nothing more than window dressing.

“It’s a sensible move by their sensible board because inevitably, it’s a signal that they’re visualising or comprehending at sometime, somewhere there’ll be a forced breakup of their supermarkets and a reduction and profitability,” Edwards said, adding Woolworths seemed to be under pressure by regulators on both sides of the Tasman.

Get the RNZ app

for ad-free news and current affairs

Download from Apple App Store
Download from Google Play Store

>>> Read full article>>>
Copyright for syndicated content belongs to the linked Source : RNZ – https://www.rnz.co.nz/news/business/507824/woolworths-expect-42-percent-drop-in-earnings-for-last-six-months

Tags: businesspercentWoolworths
Previous Post

NZ companies lagging behind in use of AI

Next Post

Sara Lee being sold after entering voluntary administration last year

Historic achievement: Governor Ferguson, Ecology celebrate nuclear waste officially being turned into glass at Hanford Site | Governor Bob Ferguson – Governor Ferguson (.gov)

Historic Breakthrough: Governor Ferguson and Ecology Celebrate Nuclear Waste Transformed into Glass at Hanford Site

October 22, 2025
Transcript: Mission to Mars — Bad science fiction – Financial Times

Mission to Mars: When Science Fiction Takes a Dark Turn

October 22, 2025
Science Hill, South Greene volleyball win TSSAA state tournament openers – WCYB

Science Hill and South Greene Dominate Opening Matches in TSSAA State Volleyball Tournament

October 22, 2025
GCC Influencer Market Jumps 75% As Lifestyle Creators Lead Growth – Net Influencer

GCC Influencer Market Soars 75% Fueled by Lifestyle Creators Leading the Boom

October 22, 2025
A look into new technology at Columbia University that could help prevent a dangerous pregnancy complication – ABC7 New York

A look into new technology at Columbia University that could help prevent a dangerous pregnancy complication – ABC7 New York

October 22, 2025
Sports Extra: Fall Week 9 – KEYC News Now

Unforgettable Fall Week 9: Top Must-See Sports Moments

October 22, 2025
Jacobson earns program’s first medal at U23 World Championships – nmuwildcats.com

Jacobson Breaks New Ground with Program’s First Medal at U23 World Championships

October 22, 2025
AHLA: Hotels generate $7B for Denver economy – Hotel Management

Hotels Drive Denver’s Economy to Soar by $7 Billion

October 22, 2025
AMC brings first new Dolby Experience to Gwinnett since 2017 – Wyoming News Now

AMC Launches First New Dolby Experience in Gwinnett Since 2017

October 22, 2025
UCare, other carriers dropping Medicare Advantage Plans, leaving 200K Minnesota seniors without health insurance – CBS News

UCare, other carriers dropping Medicare Advantage Plans, leaving 200K Minnesota seniors without health insurance – CBS News

October 22, 2025

Categories

Archives

October 2025
M T W T F S S
 12345
6789101112
13141516171819
20212223242526
2728293031  
« Sep    
Earth-News.info

The Earth News is an independent English-language daily published Website from all around the World News

Browse by Category

  • Business (20,132)
  • Ecology (880)
  • Economy (901)
  • Entertainment (21,772)
  • General (17,735)
  • Health (9,942)
  • Lifestyle (914)
  • News (22,149)
  • People (902)
  • Politics (911)
  • Science (16,112)
  • Sports (21,401)
  • Technology (15,881)
  • World (884)

Recent News

Historic achievement: Governor Ferguson, Ecology celebrate nuclear waste officially being turned into glass at Hanford Site | Governor Bob Ferguson – Governor Ferguson (.gov)

Historic Breakthrough: Governor Ferguson and Ecology Celebrate Nuclear Waste Transformed into Glass at Hanford Site

October 22, 2025
Transcript: Mission to Mars — Bad science fiction – Financial Times

Mission to Mars: When Science Fiction Takes a Dark Turn

October 22, 2025
  • About
  • Advertise
  • Privacy & Policy
  • Contact

© 2023 earth-news.info

No Result
View All Result

© 2023 earth-news.info

No Result
View All Result

© 2023 earth-news.info

Go to mobile version