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Woolworths New Zealand flags 42% slump in first-half profits

‘Re-inventing’ the New Zealand business is taking longer than expected, company says.

Woolworths CEO says the company is facing a ‘weaker medium-term outlook’.

ASX-listed grocery giant Woolworths says that the performance of its New Zealand unit “has continued to be challenging” and has booked a non-cash impairment of A$1.6 billion ($1.69b) on the business.

In a trading update to the ASX today, Woolworths said that while its “confidence in the

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Lachlan Colquhoun Mon, 29 Jan 2024
Contact the Writer: lachlan@nbr.co.nz
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Woolworths New Zealand flags 42% slump in first-half profits
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