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Woolworths Group Ltd ( (AU:WOW) ) has issued an update.
Woolworths Group Ltd has acknowledged a Federal Court judgment regarding underpayments to salaried team members in its supermarkets and Metro stores. The judgment follows proceedings initiated by the Fair Work Ombudsman in 2021 and a class action in 2019, concerning the interpretation of the General Retail Industry Award 2010 and the Fair Work Act. Woolworths had self-reported the issue in 2019 and has since repaid over $330 million to affected employees. The company is committed to resolving these issues and ensuring correct payment for its team members.
The most recent analyst rating on (AU:WOW) stock is a Hold with a A$28.00 price target. To see the full list of analyst forecasts on Woolworths Group Ltd stock, see the AU:WOW Stock Forecast page.
More about Woolworths Group Ltd
Woolworths Group Ltd is a prominent player in the retail industry, primarily operating supermarkets and Metro stores across Australia. The company focuses on providing a wide range of grocery products and services to consumers, maintaining a significant presence in the Australian retail market.
Average Trading Volume: 2,593,072
Technical Sentiment Signal: Sell
Current Market Cap: A$33.88B
See more data about WOW stock on TipRanks’ Stock Analysis page.