Kaufland Exit Sparks Rally In Coles, Woolies Shares
No wonder shares in Coles and Woolworths soared to record highs late yesterday - a major potential rival from Germany has quit before it got around to opening a store in this country.
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News
Woolies CEO Takes Pay Cut Over Staff Underpayments
Shares in major retailer, Woolworths hit and closed at an all-time high of $39.68 yesterday after CEO Brad Banducci and chairman Gordon Cairns announced they would have their pay packets docked for the 2019-20 financial year in response to the company’s $300 million underpayments of many of its managers.
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Woolies Pushes Ahead On Drinks Demerger
Woolworths has started the complicated three-part merge and de-merge of its Endeavour Drinks business with the issuing of an explanatory booklet for the first stage to shareholders yesterday.
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Woolies Staff Underpayments Overshadow Strong Q1 Sales
Supermarket giant and one of Australia’s largest employers Woolworths has underpaid nearly 6,000 of its employees close to $300 million dollars due to non-compliance with the industry award over the past decade.
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Analysts Downgrade Coles Ahead Of Q1 Sales Report
Signs of investor worries about the first quarter trading performance of our two biggest retailers - Woolworths and Coles which are both due to update the market this week on how they went in the three months to the end of September.
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Videos
Talking Income – Banks, Telstra, Woolworths & New Opportunities
Scott Kelly, Portfolio Manager for the DNR Capital Australian Equities Income SMA, gives Informed Investor his thoughts about which are the best income stocks on the ASX at the moment.
WATCH VIDEOAnalyst Views
WOW – Macquarie rates the stock as Neutral
Shareholders have voted in favour of the Endeavour Drinks restructure. This will allow for a reduction in ethical concerns, with the drinks business being separated, Macquarie assesses.
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WOW – Credit Suisse rates the stock as Underperform
Credit Suisse assesses a de-merger of Endeavour Drinks would enable a reinvestment strategy independent of Woolworths. Hotels & liquor retail generate lower returns on capital than the supermarket business.
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WOW – Morgan Stanley rates the stock as Underweight
First-quarter food sales growth of 6.6% was in line with expectations. Online sales growth accelerated to 43%. NZ food like-for-like sales growth was also strong, up 4.8%.
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WOW – Credit Suisse rates the stock as Underperform
Credit Suisse considers the stock expensive relative to valuation, which drives an Underperform rating. A lack of operating leverage in the FY19 result and cost headwinds appear to be incrementally negative, and the result was marginally below forecasts.
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WOW – Citi rates the stock as Downgrade to Sell from Neutral
German competitor Kaufland is looking to start a battle for its share of the Australian households' wallet and Citi thinks this will act as a catalyst for a resumption of an industry-wide private label price war.
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