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Why Woolworths took a $190million profit hit in the last six months

by Abella
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Supermarket Giant Woolworths has imposed the debt for a dramatic decrease in profit on warehouse workers who went on strike last year.

The Winsteens announcement of the Woolworths Group on Wednesday revealed on Wednesday that it had a surprise of a loss of $ 190 million, decrease Almost 21 percent to $ 739 million for the six months to January 5.

Chief Executive Amanda Bardwell called it a 'challenging half that was influenced by industrial action and continuous pressure of lifespan'.

The report comes as the supermarket giant battles to improve his reputation with Australians.

In September 2024, the ACCC decided to sue Coles and Woolworths separately, claiming that both customers with hundreds of 'sales' prices for more than a year to May 2023 are deceived.

The committee also conducts an investigation, ordered by the federal government, to investigate the price practices of the supermarkets.

Bardwell, who has been at the helm of Woolworths since September, has tackled the investigation in her statement about the profit of the group.

'We helped the ACCC during its research and will [completed] report.'

Why Woolworths took a 0million profit hit in the last six months

Woolworths Group, one of the two large supermarkets in Australia, saw a decrease in the $ 190 million profit. It gave a submission to the ACCC Supermarkets Inquiry in November 2024 in which the 'Fierce Competition in Grocery Retailing' was supplied '

The half -year report, published on the ASX, also revealed Income before interest and tax fell 14.2 percent to $ 1.45 billion for the six months to January 5.

“Our daily experience is that the Australian supermarket sector is very competitive and that customers have many choices about where to shop,” said Bardwell.

“We understand that despite low and stable food inflation, taking care of the costs of living for customers.”

She said that Woolworths, one of only two large supermarkets in the country, has seen the win fall because they could not fill shelves.

'The team has worked incredibly hard to recover from the disturbances of the supply chain caused by industrial action in November and December.

'In Victoria, sales have not yet fully recovered, but the availability and customer statistics return to the pre-disruptive levels with constant efforts to regain customers.

'Although we recognize the material impact of the industrial action … we have reached an agreement that is honest and sustainable and possible to enable current productivity improvements to maintain competitiveness. '

Employees in three Woolworths warehouses in Victoria and one in NSW strike for more than two weeks in November and December 2024.

When an agreement with striking employees was reached in December 2024, CEO Amanda Bardwell (photo) said 'turning back' the supply chain would be gradual

When an agreement with striking employees was reached in December 2024, CEO Amanda Bardwell (photo) said 'turning back' the supply chain would be gradual

Some setup piket lines block temporary employees and delivery of trucks that effectively keep the supermarket in ransom.

In the industrial action, thousands of shelves from supermarket and bottles in Victoria, NSW and the ACT saw empty.

It immediately cost the supermarket chain at least $ 50 million.

New General Terms and Conditions, as well as a competitive wage, were agreed on December 8 between the supermarket and employees in four distribution centers.

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