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Woolworths Group Ltd ( (AU:WOW) ) has issued an announcement.
Woolworths Group Ltd has announced the closure of its MyDeal customer website by 30 September, as part of a strategic move to consolidate its marketplace offerings into BIG W Market and Everyday Market. This decision aims to reduce operating losses and capitalize on the strong traffic growth of its existing digital platforms. The closure is expected to incur cash costs of $90 – $100 million and non-cash costs related to asset impairment, with further updates to be provided in August.
The most recent analyst rating on (AU:WOW) stock is a Hold with a A$33.00 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 major player in the retail industry, focusing on providing a wide range of products through its supermarket chain, BIG W, and digital platforms. The company is committed to enhancing its market presence by leveraging its digital properties to expand its retail offerings.
Average Trading Volume: 2,634,060
Technical Sentiment Signal: Buy
Current Market Cap: A$38.14B
For detailed information about WOW stock, go to TipRanks’ Stock Analysis page.