Drop in share price, page-40

In December last year Hill's announced they had entered into 19 year exclusive licensing agreement with Woolworths.

Meaning the only place you can now buy any of the 240 items in the Hill's range is through Woolworths, e.g. Masters Hardware.

Brilliant piece of marketing strategy - refusing to sell your goods through the largest big-box hardware group in Australia (Bunnings). Instead opting to sell HIL products only through Masters, which is a flop with nowhere near the reach and profile of Bunnings.

If HIL was a horse then you would shoot it and out the animal out of its misery!