Woolies profits skyrocket after acquiring iconic Australian department store

Woolworths released results today saying this year has been transformational.

Woolworths’ operating profits grew by 41.7% to R5.6 billion.

The August 2014 acquisition of the iconic Australian department store chain David Jones enabled them to transform into a retailer with significant scale across sub-Saharan Africa and Australasia.

The Money Show’s Bruce Whitfield interviewed Ian Moir, CEO of Woolworths.

Scroll down to listen to the audio.

Subscribe to our Business Wrap Newsletter

Our cash flow has been better than anticipated and we’re totally comfortable with our level of debt.

Ian Moir, Woolworths CEO

Our debt is mainly in rand with some in Australian dollars.

Ian Moir, Woolworths CEO

The weak currency isn’t impacting us as much as it’s impacting some others.

Ian Moir, Woolworths CEO

Australians know and love the David Jones brand. We’re putting a lot of money into that store. We want to create the best department store in the Southern hemisphere.

Ian Moir, Woolworths CEO

The department store is NOT dead!

Ian Moir, Woolworths CEO

We’re not overbuying or overcommitting.

Ian Moir, Woolworths CEO

We’re much faster and much more fashionable than we used to be in South Africa.

Ian Moir, Woolworths CEO

CapeTalk welcomes all comments that are constructive, contribute to discussions in a meaningful manner and take stories forward.

However, we will NOT condone the following:

  • Racism (including offensive comments based on ethnicity and nationality)
  • Sexism
  • Homophobia
  • Religious intolerance
  • Cyber bullying
  • Hate speech
  • Derogatory language
  • Comments inciting violence.

We ask that your comments remain relevant to the articles they appear on and do not include general banter or conversation as this dilutes the effectiveness of the comments section.

We strive to make the CapeTalk community a safe and welcoming space for all.

CapeTalk reserves the right to: 1) remove any comments that do not follow the above guidelines; and, 2) ban users who repeatedly infringe the rules.

Should you find any comments upsetting or offensive you can also flag them and we will assess it against our guidelines.

CapeTalk is constantly reviewing its comments policy in order to create an environment conducive to constructive conversations.

Read More
Shoprite – Africa’s largest retailer – increases earnings by 10.8%

Shoprite – Africa’s largest retailer – increases earnings by 10.8%

We interviewed Shoprite CEO Whitey Basson about his firm’s results.

Woolies and Botswana’s Choppies are great companies to invest in right now

Woolies and Botswana’s Choppies are great companies to invest in right now

Woolies and Botswana's Choppies are two very different retailers. Both, however, are excellent investments. Here’s why…

Should South Africa follow France’s lead and ban shops from throwing food away?

Should South Africa follow France’s lead and ban shops from throwing food away?

We interviewed the Head of Sustainability at Woolworths about South African grocers’ policy regarding unsold food.

Does cause-related marketing (e.g. Woolworths' MySchool card) work?

Does cause-related marketing (e.g. Woolworths' MySchool card) work?

Branding and advertising expert Andy Rice discusses “cause-related marketing” and the effectiveness thereof.

Grammy Award-winning Pharrell Williams teams up with Woolworths South Africa

Grammy Award-winning Pharrell Williams teams up with Woolworths South Africa

This blockbusting collaboration is the first of its kind for a South African retailer.

Raymond Ackerman and his wife seen delivering self-made sarmies to firefighers

Raymond Ackerman and his wife seen delivering self-made sarmies to firefighers

Former Pick n Pay Chairperson Raymond Ackerman was spotted on Wednesday carting around trays full of self-made sandwiches.

Equity analyst discusses why you should buy Mediclinic, Discovery and Shoprite

Equity analyst discusses why you should buy Mediclinic, Discovery and Shoprite

Looking for a few hot stocks to invest in? These three companies are where it’s at, says Kruger International's Mia Kruger.

Popular articles
CoCT 'Water Resilience Plan' to produce 500 million litres of water per day

CoCT 'Water Resilience Plan' to produce 500 million litres of water per day

City of Cape Town Mayor, Patricia de Lille held a media briefing to share the City’s 'Water Resilience Plan' on Thursday.

"I bumped into Anoj Singh and Eskom's Prish Govender at the Hyde Park Hotel"

"I bumped into Anoj Singh and Eskom's Prish Govender at the Hyde Park Hotel"

Sikhonathi Mantshantsha says surely as Anoj Singh is on suspension, he should not be talking to Eskom employees.

Journos walk out of Bathabile Dlamini's briefing after 2 hour wait

Journos walk out of Bathabile Dlamini's briefing after 2 hour wait

EWN's Gia Nicolaides says journalists walked out of the media briefing on social grants after waiting for hours for her to arrive.

Grace Mugabe used normal passport and can't enjoy diplomatic immunity

Grace Mugabe used normal passport and can't enjoy diplomatic immunity

Shadow Minister of International Relations says Mugabe's case should not be debated any further as she can't enjoy any privileges.

Snow turns parts of SA into winter wonderland

Snow turns parts of SA into winter wonderland

Parts of the Northern Cape, Eastern Cape and Western Cape are covered in snow as a strong cold front sweeps SA.

Grace Mugabe invokes diplomatic immunity as Zim-SA relations get tense

Grace Mugabe invokes diplomatic immunity as Zim-SA relations get tense

Grace is still in South Africa and her husband, Zimbabwean President Robert Mugabe, is due to land in the country this afternoon.