….how good is that for woolies, their CEO and their shareholders….brilliant stuff all things considered!!
although their CEO seems displeased?
The retailer's net profit from continuing operations rose 0.7 per cent to $1.51 billion — a result which fell "below our aspirations", according to its chief executive Brad Banducci.
…perhaps they should raise some more prices???
https://www.abc.net.au/news/2022-08-25/woolworths-annual-pro…
One thing that wouldn't have made much for them is ALH ( Australian Leisure and Hospitality Group)
I only realised yesterday i get 50% off food at ALH owned pubs for working at woolies. It is not greatly advertised.
You can also sign up at https://teambunch.woolworths.com.au/TeamLandingPage
They give away free samples every month (employees only)
Coles also had a 4.3% increase of profit to $1.05 billion.
colour me surprised!!!
It's the CEO's way of saying, they took home too much paid, without saying it.
CEO needs to pander to the shareholders too.
Looking displeased just gives the shareholders some comfort while the CEO takes a million in salary and a million in bonus.
Only $1m? He got nearly $9m from memory.
Wasn't looking for exact numbers. Don't really care unless it is my package or I am swing shareholder. Plus there is better places to put your money than buying stuff from Woolworths or their shares.
@brendanm: That's only $175k per week pre tax. With the cost of living sky rocketing and interest rates going up he's probably struggling still.
9m
Maybe I should try harder.
The upside is that a lot of that will go to the government in taxes at the highest rate. Rather than companies tax and then given as franking credits to all the superfunds and pensioners (nothing against them)
They got $5 from me yesterday buying a Snickers sharepack.
You are a part of the problem 🤷♂️
I am, maybe I should start my own Chocolate factory in one of the spare bedrooms I have?
Australian made or Chinese made?
Australian, but as Scrimshaw suggested the grams had changed. $5 for 60 grams less.
I always prefer Australian nuts over Chinese nuts though.
I always prefer Australian nuts over Chinese nuts though.
The Chinese prefer Australian nuts too..
Source : My ex-girlfriend
@iNeed2Pee: Oh, only just caught up that it's being made in Oz again. I'd happily pay more or get less to have a local product.
Can we just please focus on the things that really matter ?
Like how inclusive all these corporate giants really are and how all their ads showcases a diverse range of actors.
Also, woolworths was responsible for saving atleast a million Ukrainian lives by renaming their Chicken Kievs to Chicken Kyivs. (https://www.news.com.au/lifestyle/food/woolworths-makes-majo…)
These are the things that I personally care about, so you guys should too..
…i alway donate to ukraine when i do my weekly shopping because …as we all know, it is the current thing to do!
i alway donate to ukraine when i do my weekly shopping
No, not enough. You need to up your #SaveUkraine game..
And did you get the 🇺🇦 tattoo yet ?
ukraine tattoo, up to date with all my vaccines, eating ze bugz, rainbow coloured everything, multi gendered, anti-fascist and all ready for 2030!!
@franco cozzo: All that but you are still white…
What a shame 🤦🏻♂️
Sorry mate, you still don’t bass the bar.
Can we just please focus on the things that really matter ?
Ads? That nobody wants to watch. Advertising lives matter.
I would think driving less, turning down the thermostat would help the energy crisis.
driving
You are part of the problem, you know..
and you're not part of the problem? You a raw vegan that eats from what sprouts in the soil.
@netjock: And what’s your problem with me doing that..
I am doing my bit to save the planet, what are YOU doing ?
There’s nothing better than a kale smoothie with a few ladybugs sprinkled on top.. 😋.
@netjock: With an attitude like that, I don’t we can get anything done anymore…
Remember: We are all in this together.
Btw you gotta try the smoothie mate,
Remember: We are all in this together.
We might be in it together but I am not going to let you get me to do your job for you. Stick to delivering your bit rather than spend time supervising everyone else. If you have too much spare time pick up some recycling and plant some trees.
I guess the joke is true about vegans. They always make an opportunity to advertise themselves.
get me to do your job for you
How Dare you ?
Don’t you mean our** job ?? Wow, you clearly don’t care…
Anyways, that smoothie offer is still on the table. Let me know when you change
your mind..
@Gervais fanboy: I clearly don't care what you think. Why should I.
You don't know anything about what I do for the environment.
…thats what happens when you pay peanuts in staff wages!
Playing the devil’s advocate here - Those Ron Finemore truck drivers that deliver fuel are highly trained and get paid excess of $125k..
This is the real answer. To err is human.
@franco cozzo: Yeah maybe. After reading the article though the whole event was resolved pretty quickly. People stuff up and I can guarantee it's not the first time this has happened. Procedures will be reviewed and everyone will move on.
under such high work load quotas
Hate to disagree with you mate
But I promise you, they are not.. I am familiar with their scheduling/general work practice’s and there’s an emphasis from these companies to not put any undue work pressure on their drivers.. Coz the risk-reward ratio is just crazy
But it’s possible that the driver could have been sleep deficient for some other reasons, as sleep deficiency is the most common cause behind truck induced accidents.
@Gervais fanboy: True, the company can have the most generous schedules, so the drivers go get side jobs in between
You actually have to move those goods to get it to the hands of the end consumer.
Profits are much easier in banking because people can deposit money at ATMs and get it out of ATMs. Sometimes the central bank creates money. People source their own property / cars and basically beg you for money and you make a cut like clock work.
Crypto much easier money. Lack of regulations. Look at Binance. Celsius (all the depositors lose their life savings and the CEO isn't in jail). What was that rug pull the other day when the creators of the coin ran off with $800k.
…rose 0.7 per cent to $1.51 billion
That's it? After being one of the only few places allowed to open for a couple of years, that's it?? That CEO should be fired!
Yet the farmers and dairy farmers get squeezed out of every single cent.
This isn't a byproduct of it, it's the cause of it.
Squeeze every supplier, pay the lowest amount possible to staff, jack up the prices, and you get $1bn profit
The farmers who abuse fruit picker staff.
We are all in this together guys!
Didier Drogba, tra lala,
Didier Drogba, traaa lalala,
Didier Drogba, tra lala,
Didier Drogba, traaa lalala..
…some of us are in this more than others it seems?
It's because of all the grand sale, grand sale, grand sale.
Capitalism:) don't like it, then don't shop there
but how will i survive without my shitty collectible bits of plastic and masterprick knives???
They must be disapointed they sold the petrol business, could have rorted people on a larger scale.
Don’t worry, they still did that anyways.
WW sold the Petrol business for just under 2 billion, right before Covid happened.
The new owners are now stuffed and keep increasing product prices every few months, while the labour budget allotments for most servos keeps reducing.
So what was their return on equity, net profit percent?
If I make $2000 from a $100 investment thats a great return
If I make $50,000 profit from a $2m investment then thats a terrible return, even if its 25 times the dollar return on my other investment
Not sure a 0.7 per cent increase in operating profits from last year shows all that much price gouging
Not sure a 0.7 per cent increase in operating profits from last year shows all that much price gouging
But that is a increase of 0.7% on last years price gouging….
Sales jumped 9.2 per cent to $60.85 billion which is large jump, but yes profit was only $1.51 billion, even if you removed the COVID-19 costs of $211 million still not great. But you know, also not bad. the CEO won't have to sell his yacht I guess.
$60.85 billion which is large jump, but yes profit was only $1.51 billion
If you went to work and saved 2.48% of your after tax pay packet (1.51/60.85) I wouldn't be too impressed either.
If you went to work and saved 2.48% of your after tax pay packet (1.51/60.85) I wouldn't be too impressed either.
Depends really… If I got to write off 97.52% of my income as a tax deduction, so I only paid tax on 2.48% of my income I would be pretty happy!
Don't forget companies profits are really just a picture they paint to the outside world, there are lots of things they can do to adjust the 'profit' figure down or up as they see fit.
If Woolworths dropped mega profits in the current market they would have a massive backlash from customers for price gorging and profiting during a pandemic. It was a wise move for them not to drop massive profits (which is still up from last year BTW), and then cry that it wasn't as good as they hoped.
Its pure spin!
If I got to write off 97.52% of my income as a tax deduction
I said after tax.
But lets play. If you get to write off 97.52% it needs to be cash paid right? Not funny money. Which means you are still left with 2.48% free cash flow.
I've seen companies that can have a loss every year and live off begging from shareholders for capital but they don't last long.
I've seen companies that can have a loss every year and live off begging from shareholders for capital but they don't last long.
Looked at oil companies then? Billions of income every year, but somehow, every year they have no tax to pay or the taxpayer owes them money…. Yet decades later they are still here. So that "don't last long" claim isn't always true.
As I said, large companies can 'adjust' things to get the required 'profit' they want. It would look bad for Woolworths to be having mega profits on the back of covid in the current climate of increasing living costs. So even though profits are UP to last years, they are 'crying' like it wasn't as much as expected, so you know, doing it 'tough'. but it is all spin.
Looked at oil companies then? Billions of income every year, but somehow, every year they have no tax to pay or the taxpayer owes them money…. Yet decades later they are still here. So that "don't last long" claim isn't always true.
You need to know how they are doing it. Most of it is transfer pricing. It isn't a straightforward loss. Just a loss in Australia. Check the financial statements of the parent company. Australia isn't the world. You could say we're just being ripped off because Australia doesn't have the bargaining power and require foreign capital to develop resources.
If you look at mining exploration companies. They are constantly raising capital, issuing debt to fund their exploration activites.
As I said, large companies can 'adjust' things to get the required 'profit' they want
Obviously someone who isn't an accountant. There are some things that you can do within the law. Obviously cooking the books like Enron / Worldcom is out of the question. So I'd be very careful if you want to keep peddling that misinformed view.
So I'd be very careful if you want to keep peddling that misinformed view.
LOL if you think Woolworths is going to come after me as I said they can 'adjust' things to get the required profit they want the market to see.
Thanks, I needed a laugh today!
if you think Woolworths is going to come after me
Not Woolworths.
If you think that everything is just fudged them people are just going to think you have no idea of what you are talking about.
If you think companies just adjust to what they like. Their COVID costs. You can't make up you cleaned extra if you haven't paid it with money from the bank. If you want to rent a warehouse on 29th June and fill it with hand sanitiser without any regard for cost of rent (which prepaid rent is not an expense, it is an asset) and hand sanitiser might have expiry dates, committing cash that can be use for working capital.
You can fudge your work from home expenses too (if you have any) but would you pay 3x the price for mobile phone bills, pay full price for a new mobile phone and go with the most electricity supplier so you can pay less income tax? It is like spending an extra $1 to save 30c.
If you don't understand accounting stop peddling misinformation about fudging the books because you don't know the first thing about fudging it.
If you think that everything is just fudged them people are just going to think you have no idea of what you are talking about.
If you think that profit outcomes can't be 'adjusted' to meet what they want that year, then you have no idea of what you are talking about.
If you don't understand accounting stop peddling misinformation about fudging the books because you don't know the first thing about fudging it.
If you don't understand accounting practices then stop pedaling misinformation about how companies report because you don't know the first thing about it.
@netjock: LOL, I'm the one with no idea…. If you think it's all above board and can't be tweaked, then I'm not the one without the idea nor am I the one who isn't very good at their job if this is what you do for a living.
@JimmyF: So you saying an ASX25 company is fiddling the books. Okay mate. If you think so. With that much analyst coverage they'd be found out before the investor call finishes.
But you can only say that because you don't do it for a living and come pretending you know what you are talking about.
But you can only say that because you don't do it for a living and come pretending you know what you are talking about.
So what do you do for a living then other than fighting everyone in this thread that is? As books can be LEGALLY 'fiddled' as you put….. There are many LEGAL things companies can do to adjust outcomes.
As I said, it was all marketing spin by Woolworths to 'cry' the results hadn't been as good as they hoped, even through they are up on last year, as it would have been taken badly by its customers in the current climate of increased living costs for them to drop a mega profit right now.
@JimmyF: Yawn. Look who is fighting. Legal even if you call it a fiddle is legal. Enough said. You are just fighting like you've had a few extra drinks at the pub and using that reasoning. People can't take you to court over something that is legal even if you call it a fiddle.
That is the point. You seem to be unable to tell the difference at all and just believe what you've been brainwashed to believe. In this country we love to cut corner ourselves but when we perceive other people cut corners we call foul.
Good luck with your reasoning.
You are just fighting like you've had a few extra drinks at the pub and using that reasoning
Says the person fighting back…. Guess you have had a few too.
You seem to be unable to tell the difference at all and just believe what you've been brainwashed to believe
LOL
@JimmyF: Am I fighting you? No.
I'm just trying to tell you the truth. Everything you say isn't grounded in any facts and you don't know how financial markets or regulations work.
You seem to believe just because people post in return it is a fight.
Good bye.
Am I fighting you? No
You are as much as I am so called 'fighting' you like a drunk at the pub as you claim.
I'm just trying to tell you the truth.
So when you say something it's the truth, but when I say something, its a fight? Hmmmm interesting
Pretty disappointing result if you are a shareholder
Disclosure: im not a direct shareholder of WOW
except the share price is down 3.69% today. Sounds like the market isn't happy with the announcements.
Or the market got it wrong in the first place.
I was pointing out these figures don't seem to be good news for the shareholders.
Not good for all those who bought yesterday. Some people have been holding for a long time. People who hold WOW are either scared they are going to lose their capital (because they have little of it) or have so much money they don't really care that much long as they can live off the dividends.
I wouldn't be too worried for shareholders.
@netjock: The OP said these figures were good for the shareholders. I'm just pointing out they aren't. I'm not commenting on any of the long term trends. Personally I buy good stocks and hold onto them for a while. I'm not to where I need to sell any stocks in the immediate future so I ride out the peaks and troughs.
@try2bhelpful: If you are a day trader than you are not really a shareholder and day traders don't care. I am surprised they don't hire you to write daily market commentary. You know up = good, down = bad. Every day there is good or bad news. Guaranteed job for life.
@netjock: I'm not sure why bee you have in your bonnet but I'm not a day trader. I haven't traded a stock in quite sometime. As I said, I just ride out the peaks and troughs with good quality stocks. The OP said these figures were good for the shareholders. I just pointed out the market dipped on these numbers. ergo, they were not good numbers for the shareholders.
@try2bhelpful: 3.69% on the day doesn't really mean anything. When stocks go ex dividend they usually drop by the dividend + franking credits, it doesn't mean it is bad for share holders.
@dtc: Still missing the point. Daily gyrations in price doesn't mean anything. Does long term fundamentals support valuations going forward.
People should just look at the S&P500 chart. 2008 it bottomed at 1000 now it is 4000+.
@netjock: You are missing the point. It doesn't matter what the long term gyrations are the figures that were released, today, were not well received by the markets. They weren't good from the shareholders perspective right at this point in time.
As a, reasonably, long term Woollies shareholder I don't consider this a great result. It isn't panicking me into selling my stocks because I think Woolworths is a good long term bet. However, I won't be best pleased if we continue to get results that cause my share price to continue to drop.
@try2bhelpful: Whatever mate. You've been going around in circles. If you are holding Woolies then you probably get excited over 3%.
@netjock: Whatever you think mate. Your comments appear to be contradictory but, fortunately, I don't have to get excited by whatever "wisdom" you've decided to impart.
@try2bhelpful: Not even wisdom. Just facts. If you want to look at movements on the day and count money you lost that you didn't have and believe it is bad for shareholders. Only bad for the few that bought the day before. Unless you are a trader you wouldn't buy the day before the announcement unless you think it is going to be an earnings beat.
@netjock: Honestly, I've already said that I look at the long term issues with my shares but that doesn't mean that today's figures are good for the shareholder. That is all I'm saying. These figures could be an indicator the stock is in for rough weather going forward, it might be a momentary setback, but they aren't viewed, favourably, by the market today.
I am not a trader. My view of stocks are you buy good stocks and you hold onto them unless you think they are likely to go bad. I do take an interest in what my stocks are doing but I'm not overly concerned the market is down at this time. I'm just commenting that, right now, these figures aren't good news for the shareholder.
Woolworths is a $45 billion company with 210,000 employees. The return on revenue was 3.38% and the dividend to shareholders is 2.55%. Not fantastic and the share price fell. Woolworths would be in everyone's super fund as well as 372,000 other shareholders. My feelings are we all need Woolworths to succeed and they are doing that modestly. The grocery market is also competitive which keeps prices from getting over the top despite the current cost pressures. They are also prominent in the community. If you want to talk about executive renumeration, I do have a problem with that. It seems too high but then look at what the CEO is responsible for and that is a lot. I'm not a Woolworths shareholder but my wife is.
make sense, easy to tell.
during covid, those supermarkets, alcohol, office equipment / electronics — all making $$$$
and dont forget the companies that making vaxs