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Supermarket Woolworths Announces Its Petrol Sales Down

Woolworths has posted a full year loss of $1.23 billion — a slump of 157.5 per cent from the year prior, hammered by its failed home improvement venture, a downturn in Big W sales, and as food and petrol sales also slumped. Woolworths has announced a new operating model, with 500 roles to be permanently removed from its support office and supply chain.

The loss comes after the company confirmed yesterday it would close all the stores of its failed home improvement chain Masters in December, with thousands of jobs likely to go.

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