2305 GMT [Dow Jones]--Woolworths's non-food businesses remain a problem child, with W Living set to lose some A$113 million in FY 2025 when Petstock is excluded. That appears to frustrate Barrenjoey, which has an overweight call on Woolworths and prefers its stock to that of chief supermarket rival Coles. The forecast losses for W Living come despite that division generating around A$4.8 billion of annual sales. "We think considerable opportunities must exist within these businesses to remove cost and improve productivity," analyst Tom Kierath says. "Given Woolworths trades at a multiple in line with Coles, one could argue that the market is currently ascribing a negative value for these non-core businesses." (david.winning@wsj.com)
(END) Dow Jones Newswires
0006 GMT - Woolworths's non-food businesses remain a problem child, with W Living set to lose some A$113 million in FY 2025 when Petstock is excluded. That appears to frustrate Barrenjoey, which has an overweight call on Woolworths and prefers its stock to that of chief supermarket rival Coles. The forecast losses for W Living come despite that division generating around A$4.8 billion of annual sales. "We think considerable opportunities must exist within these businesses to remove cost and improve productivity," analyst Tom Kierath says. "Given Woolworths trades at a multiple in line with Coles, one could argue that the market is currently ascribing a negative value for these non-core businesses." (david.winning@wsj.com; @dwinningWSJ)
(END) Dow Jones Newswires
May 01, 2025 20:06 ET (00:06 GMT)
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