Apparel and food retailer Woolworths says it’s committed to turning around its embattled David Jones business, in the face of a report that it is considering getting rid of it altogether. | Fin24
In a written statement, Woolworths would not be drawn into commenting on the possible sale of the ailing business, saying it does not comment on"media or market speculation".
"WHL [Woolworths Holdings Limited] remains focused on the operational turnaround of David Jones and ensuring that this iconic business is restored to its rightful market leadership position in Australia,” the retailers clarified. wrote that the South African retailer was in talks with banks to sell the department store. The Woolworth share price rallied over 4% amid the speculation.
Woolworths has since changed leadership, with former CEO Ian Moir who spearheaded the acquisition exiting and current CEO Roy Bagattini focusing on turning the business around.
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