Woolworths to stick to its last

Press, Volume CXI, Issue 32567, 29 March 1971, Page 20

Woolworths to stick to its last

Woolworths, Ltd, the Australian retailer, would not extend its department store type of trading, and would retrench from the recent shopping centre-type of expansion.

The chairman (Sir Theo Kelly) said the company considered that such trading, in the future, would require larger stores than most of those operated by the company, and without this additional space, it would not be possible to provide a competitive range of goods and services. In these circumstances, it was considered preferable fot the company to concentrate its development and capita)

expenditure upon its major retail division, namely Woolworths Family Centres, Supermarkets, Food Stores and the traditional Woolworths Variety stores. In conformity with this policy, arrangements have been completed whereby David Jones, Ltd, will acquire the Kotara shopping centre (Newcastle) and the Big W. department store at Warrawong (Woolongong).

Woolworths would continue to operate the supermarkets in those centres. Sit Theo Kelly said.

| The centres would benefit considerably by the inclusion of David Jones, which would provide its customary high standard of service to its customers and increase the volume of business in the centre to the benefit of the tenants. These transfers would take place on April 19, and .arrangements have been made for the continuity of employment of staff.

The remaining Big W. department stores will continue to trade as at present.