Woolworths announces $1bn loss, appoints new CEO

Woolworths announces $1bn loss, appoints new CEO

Australian supermarket chain Woolworths has announced a loss of $1bn due to the price war. The supermarket giant along with Coles, form a near duopoly of Australian supermarkets, together accounting for about 80% of the Australian market. Woolworths has also stated that Brad Banducci would replace the outgoing chief executive, Grant O’Brien as the company’s new chief executive officer. The company, […]