Bunnings killing Masters in the car park

Intelligent Investor

Independent Financial Research

This morning, Woolworths (ASX: WOW) announced growing losses from its Masters hardware stores. Whilst sales were up 24% to $930m, the chain lost $245.6m. Last week, Masters’ major competitor Bunnings revealed a profit of $1.1bn on sales of $9.5bn, up 11.6%. A car park in Lismore in northern NSW reveals the extent of Woolies’ problem. In February, Masters opened a new store in the town, right next door to Bunnings. This morning, I went to take a look (see above). The problem was obvious before entering the store. There were just 49 vehicles, only three of which were UTEs. Oddly, more than half were parked well away from the entrance. My guess is that employees from the industrial estate across the road were taking advantage of fresh, unoccupied concrete. Read full article here: (VIEW LINK)

2 topics

1 stock mentioned

Intelligent Investor
Intelligent Investor
Independent Financial Research

Intelligent Investor is an independent financial research service with a 14-year history of beating the market. Our value investing approach empowers Australians to make more informed decisions to build their long-term wealth. We off structural...


No areas of expertise

I would like to

Only to be used for sending genuine email enquiries to the Contributor. Livewire Markets Pty Ltd reserves its right to take any legal or other appropriate action in relation to misuse of this service.

Personal Information Collection Statement
Your personal information will be passed to the Contributor and/or its authorised service provider to assist the Contributor to contact you about your investment enquiry. They are required not to use your information for any other purpose. Our privacy policy explains how we store personal information and how you may access, correct or complain about the handling of personal information.


Sign In or Join Free to comment