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

Gucci NZ bucks retail trends, posts 17% profit gain
Retail

Gucci NZ bucks retail trends, posts 17% profit gain

Gucci's NZ profit gain follows that of its main competitor, Louis Vuitton.

Gregor Thompson 08 Oct 2024
Former Harvey Norman contractor assesses legal action
Retail Exclusive

Former Harvey Norman contractor assesses legal action

Like Uber drivers, Lachlan MacDonald believes he was an employee.

Gregor Thompson 07 Oct 2024
Country Road Group restructure will affect NZ, analyst says
Retail

Country Road Group restructure will affect NZ, analyst says

The group has been engulfed in a sexual harassment scandal over the ditch.

Gregor Thompson 03 Oct 2024
KMD Brands appoints new CEO as Daly resigns
Retail

KMD Brands appoints new CEO as Daly resigns

Departing CEO Michael Daly held the top job since May 2021.

Gregor Thompson 02 Oct 2024