Woolworths deserves more time for Masters

It's too early to conclude that Woolworths' (ASX: WOW) Masters experiment has been a failure. Masters was meant to be Woolworths’ (ASX: WOW) growth engine, a business that protected it from an over-reliance on its huge supermarkets operation. Home improvement looked like a great opportunity. In 2011, when the first Masters store opened, Bunnings — owned by Wesfarmers (ASX: WES) — dominated this $42bn market. Like Bunnings, Woolies thought it could crush the small fish by providing a better retail experience, cheaper prices and a greater range. This wasn’t pie-in-the-sky thinking. US home improvement giant Lowe’s has 1,840 stores generating US$56bn in annual revenue. Why go on a tiny Australian adventure if it wasn’t going to make good money on it? Well, it looks like the dream is over. A flawed roll out and growing pains, to say nothing of the poor locations Masters has been left with by Bunnings, have turned opinion on the partnership. Read full text here: (VIEW LINK)