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You have to wonder with Woolies

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26/07/2006

UK retailer Woolworths has recorded a 7.7% decline in sales in the first half of this year in what it described as a “challenging” retail environment.

Woolworths has refitted 70 of its stores during the period and says it is improving the business by a combination of methods aimed to improve performance.

Bish Jones, Woolworths chief executive, said: “We continue to improve the business by investing in the store base, rapidly enhancing our multi-channel capability and driving through efficiencies in the supply chain.”

“Stuff and nonsense,” responded retail analyst Debbie Harrison. “Woolworths is struggling to find a place in the modern High Street and I’m not sure that it has yet, despite the protestations of the chief executive.”

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