Woolworths has been urged to adopt long-term strategies rather than quick fixes to reinvigorate sales and profit growth and regain its lead over rivals in the AUD88 billion grocery market.
As Australia’s largest retailer prepares to unveil its first strategy update in almost four years, analysts and investors say short term fixes aimed at regaining lost market share and returning the group to profit growth next year will do little to restore confidence in Woolworths’ longer term prospects.
"Whatever they do it has to have a long term focus," said Platypus Asset Management fund manager Don Williams. "Any retailer can juice their returns for a quarter or two – they need to come up with strategy that can deliver [long-term] growth."
(Source: The Sydney Morning Herald Online )