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

This article first appeared on 702 : Woolies profits skyrocket after acquiring iconic Australian department store


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
[LISTEN] 'We are dealing with an outbreak of Listeriosis' - Dr Thomas

[LISTEN] 'We are dealing with an outbreak of Listeriosis' - Dr Thomas

Head of the Centre for Enteric Diseases at the NICD Dr Thomas says that Listeriosis is problematic because it isn’t notifiable.

Publisher saves South African students billions with free textbooks

Publisher saves South African students billions with free textbooks

This year we're going to hit a million downloads of free textbooks in SA - James van der Westhuizen, country manager for Bookboon.

Steinhoff money woes and why you should care

Steinhoff money woes and why you should care

The company lost around R100 billion leaving the JSE reeling in one of the biggest private sector business scandals.

Few retirement funds unaffected by Steinhoff implosion (i.e. you just got had)

Few retirement funds unaffected by Steinhoff implosion (i.e. you just got had)

Your money, and Steinhoff… Bruce Whitfield interviews Certified Financial Planner Peter Calitz.

‘There were clear warning signs at Steinhoff. All of which fund managers missed’

‘There were clear warning signs at Steinhoff. All of which fund managers missed’

The Money Show’s Bruce Whitfield interviews Sygnia Group CEO Magda Wierzycka.

Zille: 40 000 affordable housing units in the pipeline for WC

Zille: 40 000 affordable housing units in the pipeline for WC

Western Cape Premier Helen Zille says the government plays a crucial role in the provision of affordable housing in the province.

How businessman Max Lichaba struck gold with his jewellery company

How businessman Max Lichaba struck gold with his jewellery company

Entrepreneur Max Lichaba built his own empire and is the CEO of Lichaba Creations and several other businesses. This is his story.