He even had a kind word for former Coles boss Ian McLeod, whose leadership and transformation of the once struggling grocery chain from 2008 to 2014 helped supercharge Coles’ earnings to the point where Woolworths is now staring at posting its first full-year loss in 23 years.
But the former retailer turned company director saved his harshest criticism for Woolworths’ decision seven years ago, under former chief executive Michael Luscombe, to break into the hardware market through a joint venture with US giant Lowe’s, which proved a costly fiasco for shareholders.
These comments from Roger Corbett show the damage done by some bad business decisions and
now the first full year loss in 23 years is probable.
Metcash are able to make their hardware business work and so are WES . Woolies totally opposite.
I think Metcash are even looking at some of Woolies harware assets.
Full year numbers will be not be pretty . IMO we await
He even had a kind word for former Coles boss Ian McLeod, whose...
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