Gaming survives Woolies slump

The Woolworths Group’s trading statement for the financial year ended 28th January highlights entertainment wholesale (including games) and publishing as its strongest performers. It also pointed out strong cash flow and a refurbishment program which has seen 48 stores refitted on top of two new store openings.

"This was a year in which the tough conditions on the High Street overshadowed the continued improvements in the underlying infrastructure of our business and a creditable trading performance,” said Woolworths’ chief executive Trevor Bish-Jones. “Nevertheless, we have improved margins and cashflow, significantly reduced our costs and again demonstrated the robustness of the Woolworths business.”


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