Woolworths is taking on Wesfarmers’ Bunnings in the heartland of the AUD45 billion (USD37.28b) home improvement market, opening four Masters big-box stores in western Sydney in 2015 at a cost of AUD100 million.
Woolworths’ home improvement managing director, Matt Tyson, said on Tuesday the four stores were the first of many planned for Sydney under a new strategy aimed at boosting Masters’ presence in metropolitan markets.
The supermarket giant announced in August that its home improvement business would not break even in 2016 as planned and flagged changes to its strategy to boost sales, reduce costs and improve profitability.
(Source: The Sydney Morning Herald Online )