I guess they don't have $400m spare for a rebrand then.
this post was submitted on 23 Aug 2023
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It’s the Final Countdown
The day they announced their rebrand was the last day I bought anything from them. I refuse to give them any more money on principle. If they can shell out nearly a half billion on a rebrand, they can drop some of their prices.
...or maybe, just maybe, have a slightly smaller dividend this quarter.
Fuck 'em.
Oh no.. where did I put my tiny violin
Where does the 21% drop in earnings in the title come from? The article says sales increased 4.6%
Wierd, it was the link I clicked on:
Pretty weird to not include their claim in the article.
Woolworths said its New Zealand profit had been impacted by significant cost inflation despite increasing its sales.
Turnover is up, profit down, by the sound of it.
The article says what this years NZ profit is, and then says what the Woolworths Australia total profit change is (an increase). It doesn't give us the information to calculate whether NZ profit is up or down. I guess the profit change is the 21% down but it's pretty sloppy article writing to not include your claim in the article.
About on par for Stuff, in other words.
I wonder if some of those cost increases are boosting the Australian parent's revenues? I've seen some house branded stuff go up in price significantly compared to competing products.
Almost certainly, although revenue does not mean profit.