Woolworths write-down: Embarrassing or just an overpayment

Woolworths write-down: Embarrassing or just an overpayment
Supermarkets are facing increased regulatory scrutiny on both sides of the Tasman. (Image: Getty)
Dileepa Fonseka
On Monday, Woolworths wiped out nearly 70% of the goodwill the company recorded on its New Zealand books.Monopoly Watch spokesperson Tex Edwards said the write-down was "embarrassing" because, if genuine, it changed numbers around the return on equity the Australian-listed supermarket chain had declared to the Commerce Commission. "It's in dramatic conflict with their submission to the Commerce Commission in the market study ... they said that that goodwill was real assets, and they said that they were entitled to an eco...

More Retail

Time ripe to stop forex fees confusion
Finance

Time ripe to stop forex fees confusion

Misleading 'fees free' foreign exchange deals are costing Kiwis.

Pattrick Smellie 22 Jul 2025
Warehouse reshuffles exec team
Retail

Warehouse reshuffles exec team

The Warehouse Group has reshuffled its executive team ahead of its leadership transition at the end of the month.On Friday, the retail group appointed Stefan Knight as chief financial officer. Knight will exit his role as financial director at Spark New Zealand and start on Aug 1...

Staff reporters 18 Jul 2025
Why Promisia's promised land is Cromwell
Retail Small Cap Wrap

Why Promisia's promised land is Cromwell

Plus chicken and eggs with BlackPearl, Rua goes for gold in Reefton, and more.

Aussie and NZ line up on bank fee chop proposal
Retail

Aussie and NZ line up on bank fee chop proposal

The Australians are also proposing to ban surcharges on in-store plastic card payments.

Pattrick Smellie 16 Jul 2025