Coles Introduces Ambitious Midterm Cost-Out Programme. AUD 12.30 FVE Unchanged.
In large parts we agree with the frank outlook Coles’ management provided at the firm’s inaugural investor day on the challenges awaiting Australian grocery retailers in the near to medium term. Nevertheless, the market looked past those headwinds, welcoming the reiterated dividend payout policy and an ambitious cost-out target. We hadn’t expected a dividend cut and any efficiency gains are likely to be chewed up by cost inflation or passed on to consumers in the form of lower food prices.At ou...
Woolworths Group is organized into five segments: Australian Food and Petrol, which involves the procurement of food and petroleum products for resale to customers in Australia; New Zealand Supermarkets, which involves the procurement of food and liquor and products for resale to customers in New Zealand; Endeavour Drinks Group, which involves the procurement of liquor products for resale to customers in Australia; BIG W, which involves the procurement of discount general merchandise products for resale to customers in Australia; as well as Hotels, which involves the provision of leisure and hospitality services, accommodation, entertainment and gaming in Australia.
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