Still smarting from its disastrous acquisition of department store David Jones, Woolworths will write down the value of another of its Australian businesses by around R500 million.
This was buried in the fullyear profit warning it released this week, in a rather technical distinction between the earnings per share decline with or without this once-off impact.
It says it will impair the value of goodwill of its Politix brand, which is part of its Country Road Group business. It exists alongside the Country Road, Trenery, Mimco and Witchery brands.
It acquired the Politix menswear retailer in 2016 under thenCEO Ian Moir (who was also the architect of the David Jones acquisition in 2014).
At the time, Moir said: "The acquisition of Politix is a logical acquisition that will deliver value for WHL's shareholders.
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HANDRE IS NO OLD DOG
Pollard happy to play a mentoring role with the emergence of new, exciting talent in the Springbok ranks.
Shaping future Bok prospects
With the Currie Cup final between the Lions and Sharks set to be battled out at Ellis Park on Saturday (kick-off 4pm), many are perhaps wondering what place the country's oldest rugby competition still has in the current rugby ecosystem.
Saleng strike sinks Chippa
Monnapule Saleng netted an added time winner as Orlando Pirates came back from a goal down to beat Chippa United 2-1 in a Betway Premiership match at the Orlando Stadium last night.
Arsenal look for good jump-start
JORGINHO: USE ATALANTA AS A MAN CITY SPRINGBOARD.
Yamal's Barcelona are aiming high
Approaching a decade since Barcelona last won the Champions League, the Catalan giants face Monaco in this season's European opener today aiming to make a statement.
Reds strut past Milan
Liverpool strutted to a 3-1 win at AC Milan on Tuesday as the Reds got their campaign in the revamped Champions League off to a stylish start.
'Happy' Kylian hits his straps
Kylian Mbappe (above) scored on his first Champions League appearance for Real Madrid as the holders started their trophy defence with a 3-1 win over Stuttgart on Tuesday.
Kane punishes Zagreb with four
Harry Kane (right) scored four goals, including three penalties, as Bayern Munich beat Dinamo Zagreb 9-2 at home on Tuesday-becoming the first team to score nine goals in a Champions League match.
A good week to draft a will
Attorneys on the LSSA website ready to draft at no cost.
Discovery hikes rates
The lowest will be across Smart plans with a hike of 7.4%.
