Woolies made $2 bill profit
Aug 26th 2010, 11:10 pm
#1
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Woolies made $2 bill profit
Aug 26th 2010, 11:19 pm
#2
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Re: Woolies made $2 bill profit
...well, it's a business, it exists to make a profit! No one's forced to go in there so presumably it's giving customers something they want.
Aug 26th 2010, 11:24 pm
#3
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Re: Woolies made $2 bill profit
Woolworths annual figures:
Sales $51.96 Billion
Profit $2.02 Billion
Profit margin of 3.89%
If the average weekly spend was $100 per household, they could afford to reduce that to $96, and make a loss instead. Then go out of business and make almost 200,000 people unemployed.
Sales $51.96 Billion
Profit $2.02 Billion
Profit margin of 3.89%
If the average weekly spend was $100 per household, they could afford to reduce that to $96, and make a loss instead. Then go out of business and make almost 200,000 people unemployed.
Aug 26th 2010, 11:54 pm
#4
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Re: Woolies made $2 bill profit
Aug 27th 2010, 3:15 am
#6
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Re: Woolies made $2 bill profit
April 2010
Supermarket giant Tesco has rung up record annual profits yet again despite the economic downturn, and declared there is little danger of a double-dip recession in Britain.
Britain's biggest retailer posted underlying pre-tax profits of £3.4bn for the 12 months to the end of February, a 10.1% rise on the previous year.
http://www.guardian.co.uk/business/2...-profits-again
Supermarket giant Tesco has rung up record annual profits yet again despite the economic downturn, and declared there is little danger of a double-dip recession in Britain.
Britain's biggest retailer posted underlying pre-tax profits of £3.4bn for the 12 months to the end of February, a 10.1% rise on the previous year.
http://www.guardian.co.uk/business/2...-profits-again
Aug 27th 2010, 7:24 am
#7
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Re: Woolies made $2 bill profit
Aug 27th 2010, 7:41 am
#8
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Re: Woolies made $2 bill profit
Good on them. Is this a sign of the double dip or not? 
Aug 27th 2010, 8:24 am
#9
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Re: Woolies made $2 bill profit
The UK section of Tesco appear to have made a 6.23% profit on the UK turnover, according to their 2010 reports, so a slightly higher profit ratio than Woolworths.
Aug 27th 2010, 10:10 am
#10
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Re: Woolies made $2 bill profit
Some things really don't stop making a profit when in any GFC.. fods one of them.. Interestingly when there is a recession alcohol and cigarette companies make more money! Hmmm
Aug 28th 2010, 7:17 am
#11
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Re: Woolies made $2 bill profit
Woolworths annual figures:
Sales $51.96 Billion
Profit $2.02 Billion
Profit margin of 3.89%
If the average weekly spend was $100 per household, they could afford to reduce that to $96, and make a loss instead. Then go out of business and make almost 200,000 people unemployed.
Sales $51.96 Billion
Profit $2.02 Billion
Profit margin of 3.89%
If the average weekly spend was $100 per household, they could afford to reduce that to $96, and make a loss instead. Then go out of business and make almost 200,000 people unemployed.
He proudly stated that WOW was a company with a huge turnover of $50 billion per year,they made $2 billion a year profit.I settled back to have a laugh.Ten minutes of nonsense followed,the expert proudly spouting his ideas and theories.Kerry the red thanked him for his expertise and of course more competition would mean lower prices.
Wouldn't you think that someone with all those qualifications and expertise would be able to work out that 2 is 4% of 50,I don't think he will ever be able to see it.
Mark Twain got it right eh
Commnon sense just aint common
Geordie downunder
Aug 28th 2010, 7:33 am
#12
And YOU'RE paying for it!
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Re: Woolies made $2 bill profit
I'm not sure what the funny is there. 
Aug 28th 2010, 8:12 am
#13
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Re: Woolies made $2 bill profit
Woolworths probably has the best range of any Australian supermarket, is convenient and provides a pleasant shopping experience, unlike slightly dodgy places like ALDI, Foodworks and IGA. Most people prefer to have their bags packed and have the option of plastic or environmentally friendly bags instead of having to bring their own and struggle with them on the way to the car.
Few people like to walk down isles in a food warehouse with everything just thrown and stacked on the floor and generic brands with ridiculous names imported from Poland, purely to save a few bucks, (unless low income is an issue for you then fair enough).
This is how major supermarket chains like Coles and Woolworths make their money. They provide a modern, convenient and friendly shopping environment, even if they do charge more money for items and dominate the market at the expense of smaller and crappier companies.
It just gets a little tiring hearing all the diatribe against Australia's supermarket duopoly, that's just the way it is and until something better comes along, either locally or an international company, that's the way it will stay.
Few people like to walk down isles in a food warehouse with everything just thrown and stacked on the floor and generic brands with ridiculous names imported from Poland, purely to save a few bucks, (unless low income is an issue for you then fair enough).
This is how major supermarket chains like Coles and Woolworths make their money. They provide a modern, convenient and friendly shopping environment, even if they do charge more money for items and dominate the market at the expense of smaller and crappier companies.
It just gets a little tiring hearing all the diatribe against Australia's supermarket duopoly, that's just the way it is and until something better comes along, either locally or an international company, that's the way it will stay.
Aug 28th 2010, 12:32 pm
#14
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Re: Woolies made $2 bill profit
Absolutely, Woolies made a huge profit last year.
I for one, have cut down tremendously on eating out in restaurants and cafes in Perth. Drinking in bars and clubs are almost non existant, too bloody expensive.
Why spend $50 on a single sub standard meal in Perth when you can buy a kilo of fine fillet steak and a decent bottle of wine for the same price. Eating in is the only way to go unless it's on company expenses or a cheap Asian job.
My guess is most restaurants (except Maccas), bars, cafes are doing it tough, supermarkets are doing good as has always been the case when people are tightening their belts through general costs skyrocketing.
I for one, have cut down tremendously on eating out in restaurants and cafes in Perth. Drinking in bars and clubs are almost non existant, too bloody expensive.
Why spend $50 on a single sub standard meal in Perth when you can buy a kilo of fine fillet steak and a decent bottle of wine for the same price. Eating in is the only way to go unless it's on company expenses or a cheap Asian job.
My guess is most restaurants (except Maccas), bars, cafes are doing it tough, supermarkets are doing good as has always been the case when people are tightening their belts through general costs skyrocketing.
Aug 28th 2010, 1:08 pm
#15
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Re: Woolies made $2 bill profit
Woolworths annual figures:
Sales $51.96 Billion
Profit $2.02 Billion
Profit margin of 3.89%
If the average weekly spend was $100 per household, they could afford to reduce that to $96, and make a loss instead. Then go out of business and make almost 200,000 people unemployed.
Sales $51.96 Billion
Profit $2.02 Billion
Profit margin of 3.89%
If the average weekly spend was $100 per household, they could afford to reduce that to $96, and make a loss instead. Then go out of business and make almost 200,000 people unemployed.
so thats after everything has been taken out