Inside Woolies’ fancy new stores

CommSec Advisory’s Will Kenny speaks with Tom Piotrowski about earnings results due from Woolworths, Wesfarmers, A2 Milk, Blackmores & Healthscope in August 2016.On top of the company-wide improvements, Woolworths will radically overhaul more than 100 stores in the coming year as it begins the slow process of righting the ship following its eye-watering .235 billion full-year loss — the first in its 23 years as a public company.The nation’s largest supermarket on Thursday confirmed the result, driven by .628 billion of writedowns related to its ongoing exit from the hardware sector and its underperforming Big W stores.But earnings from food and petrol also dropped 40.8 per cent to .76 billion, from .97 billion in the previous year, due to lower prices and a decline in items per basket. Woolworths spent 0 million in FY16 on lowering prices, bringing its total price investment to more than billion since 2015.frank.chung@news.com.au