Woolworths chief executive Amanda Bardwell will slash $400 million in costs and cut the number of products the retailer sells to convince sceptical investors she can reverse a decline in profits.
Bardwell faces a market that is increasingly concerned about the supermarket giant’s trajectory. On a call after the company announced a 20 per cent fall in interim net profit, one analyst questioned Bardwell about whether she could save Woolworths from becoming “uninvestible”.
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Carrie LaFrenz is a senior journalist covering retail/consumer goods. She previously covered healthcare/biotech. Carrie has won multiple awards for her journalism including financial journalist of the year from The National Press Club. Connect with Carrie on Twitter. Email Carrie at carrie.lafrenz@afr.com
