CEO Simon Susman admitted that Woolies may have overextended itself in the great retail sector expansion from 2004 to 2007. The surprise decision to sell just more than 50% of the financial services business to Absa for R875m was touted as a win for both companies. But a rise in bad debts doesn't mean management has lost its nerve in planning for growth. Capital expansion through to 2010 will cost R660m, floor space in foods will grow by 21% this year, and in clothes by 4%.
BDFM Publishers (Pty) Ltd disclaims all liability for any loss, damage, injury or expense however caused, arising from the use of, or reliance upon, in any manner, the information provided through this service and does not warrant the truth, accuracy or completeness of the information provided. The publisher's permission is required to reproduce the contents in any form including, capture into a database, website, intranet or extranet.
