End of an era? Woolworths takes a $370M hit as it shuts down 30 Big W stores across Australia Woolworths will close 30 Big W stores over the next three years The decision was made to help 'maintain a strong and profitable store network'
By Australian Associated Press
Published: 00:23 BST, 1 April 2019 | Updated: 01:30 BST, 1 April 2019
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Woolworths has announced it will take a $370million hit in its full-year results after it has decided to close about 30 Big W stores and two distribution centres over the next three years.
The supermarket giant, which also confirmed a $1.7billion share buyback following the sale of its fuel operations, says the hit will be composed of $270
