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

The Warehouse’s plight in five charts
Retail Charts

The Warehouse’s plight in five charts

The private equity bid shows the company’s future is still anyone’s guess.

Gregor Thompson 26 Jul 2024
Serato and AlphaTheta have abandoned deal
Retail

Serato and AlphaTheta have abandoned deal

The CMA said it has received written assurances from the parties. 

Rebecca Howard 24 Jul 2024
Warehouse share trading complaint filed
Retail

Warehouse share trading complaint filed

The Warehouse had confirmed a buyout proposal had been lodged.

Gregor Thompson 24 Jul 2024
Stephen Tindall supports Warehouse takeover offer
Retail

Stephen Tindall supports Warehouse takeover offer

Bid from Australian private equity firm values shares at between $1.50 and $1.70.