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Lowe’s could increase stake in Masters

Woolworths will outline its plans for the beleaguered Masters Home Improvement business within months, which could include offloading a larger stake of the loss-making operation to its US joint venture partner Lowe’s.

With losses from Masters headed towards AUD200 million for the nine months to October, analysts suggest Woolworths will reveal its plans for its home improvement operation by early in the new year.

Lowe’s third quarter losses on its 33 percent stake in Masters increased by close to 20 percent in Australian dollar terms compared to the same period last year, despite stronger sales from the new format stores.