Woolworths plans to add 100 smaller scale stores to the group’s portfolio in the next four to five years in small towns and suburbs while closing, or relocating, up to 30 bigger outlets in more expensive locations.
It wants to add as many as 200 small and medium-sized stores “over time” in areas that it has identified as currently lacking a branch.
The company is testing standalone kids-only stores called Woolworths Kids+.
It has opened three in Northampton, Burton and Telford and plans a fourth, in Burford, before Christmas. The format could be rolled out across the country.
It snubbed calls to break up the group. It said it was not the right time to split the retail and entertainment divisions.
A comment piece in The Daily Telegraph describes how, with almost no freehold property, Woolworths has to deal with spiralling rents.
References: Financial Times 21/09/06 page 21, page 22 (Lombard), page 24, The Times 21/09/06 page 44, page 45 (Main, Business Editor’s Commentary), page 46 (Need to know), The Daily Telegraph 21/09/06 page B2 (Co
