Big Woolworths Limited

696 Words2 Pages

Managing director’s report As stated by (Woolworths Limited 2017), management addressed several key issues and was pleased with the progress made in 2017. Improving team engagement and underlying business processes and culture, management nonetheless still notices many opportunities to improve the company. There were five key priorities guiding the transformation at the start of FY17, the first priority was building a customer and store-lead team and culture. There was an improvement in the customer scores for Voice of Team and Australian Food and Endeavour drinks. At the end of 2017, The Voice of Customer score was 81% and record scores in BWS and Dan Murphy’s were achieved. In addition, the sustainable engagement score was 82%, a five point …show more content…

Their third focus was endeavour drinks in which BWS and Dan Murphy’s delivered favourable comparable sales. With online remaining a fundamental area of focus over the year, Dan Murphy’s online experienced growth of approximately 25%. Their fourth priority was empowering their portfolio business to pursue strategies to deliver shareholder value. After experiencing a disappointing financial result with Big W, Woolworths Limited reflected on the investment they made in the second half of the year and implemented a new turnaround plan, while also appointing David Walker as the Big W Managing Director who had acted in the role since 2016. Woolworths Limited in 2018 will continue to invest in Big W by improving the product range, price trust and the customer shopping experience. In addition to establishing a new governance structure with ALH Hotels which resulted in an 11.7% increase in earnings before interests and tax, they exited Ezibuy during 2017 and in August, finalised their exit from Home Improvement after having Lowes’ one third in the Home Improvement joint venture acquired for $250.8 million. Their fifth focus was becoming a lean retailer through end-to-end processes and systems excellence through initiatives including the migration of over 175,000 employees to Success Factors Human Capital System, and …show more content…

Also, it complied with the Corporations Regulations 2001 and Australian Accounting Standards. Investors can therefore confidently rely on these company financial statements. 2.

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