I get the feeling that Woolies has been underinvesting in their stores the past few years (perhaps so management can achieve short term bonuses?). I have 4 Woolies stores near me, 3 of them are pretty old and tired and look like they're from the 1980s, plus they seem to be understocked and messy when I visit. There's 3 Coles in my area and all have had some freshening up of the stores in recent years.
$24 price target, page-87
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