Woolworths not the Masters of home improvement

Wilson Asset Management

Wilson Asset Management

Supermarket giant Woolworths (ASX: WOW) announced on Monday that it will exit the failing home improvement and hardware business Masters, by either selling or winding it down. After an extensive review, Chairman Gordon Cairns said it would take several years for Masters, which was established in 2011, to become profitable. The company said the decision will allow Woolworths to focus on strengthening its core businesses, including its supermarket chain which is battling competition from rivals Coles and Aldi. Woolworths shares closed up 5.4% for the week. We do not own Woolworths in the investment portfolio.

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Wilson Asset Management
Wilson Asset Management

Wilson Asset Management has a track record of making a difference for shareholders and the community for 25 years and is the investment manager for eight LICs - WAM Capital (ASX: WAM), WAM Leaders (ASX: WLE), WAM Global (ASX: WGB), WAM Microcap...

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