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Michael Luscomb

Retail going backwards but news not all bad as penny drops

WHEN Woolworths boss Michael Luscombe warned last week that 2012 would be the retail sector's most challenging year, he wasn't kidding. While the sharemarket has factored in profit downgrades for retailers in 2011, deep sales discounting in July of...

Woolworths sees no respite for struggling Australian retailers

Australia's largest retailer Woolworths Ltd sees nothing that will loosen consumers' tight-fisted shopping habits as another tough year looms, reinforcing dovish commentary from Australia's central bank. Woolworths, which matched analyst forecasts with a 4 percent rise in fourth-quarter comparable food...

Woolworths poised for steady handover

Michael Luscombe would be reasonably satisfied with Woolworths' performance, in the circumstances, as he prepares to hand over responsibility for the retailer to Grant O’Brien. In difficult conditions, particularly for the group’s general merchandise brands, the 4.1 per cent increase...

Woolworths post 27 per cent jump in second-half profit

Australia's largest supermarket chain Woolworths Ltd posted a 27 per cent rise in second-half profit. The second-half net profit of A$598.4 million compared favourably against A$471 million last year. The Sydney-based company has also managed to extract market share...
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