Woolworths will close a number of Big W stores over the next three years, it’s been announced.
Around thirty stores are expected to shut shop over the next three years – as well as two distribution centres.
“As foreshadowed at our half-year 2019 results, while the recovery in trading for Big W is encouraging and there remains further opportunity for improvement, the speed of conversion to earnings improvement is taking longer than planned," Woolworths chief executive Brad Banducci said in a trading update.
“This decision will lead to a more robust and sustainable store and DC [distribution centre] network that better reflects the rapidly changing retail environment. It will accelerate our turnaround plan through a more profitable store network, simplifying current business processes, improving stock flow and lowering inventory."
Which stores will be affected isn’t yet clear.