Ann: Investor Briefing Presentation - Sydney , page-4

I wouldn't necessarily assume that the A team is stashed in Coles. I am of the opinion that they have acquired the best people they think possible to run their respective business units. Guy Russo is no monkey, but I get the impression that K Mart is behind the game a bit due to lost time deciding whether it would be kept, and subsequent time developing a strategy. There is probably more short term pain for K Mart, but it's too early to write it off just as others did for Coles not so long ago. That said, you are right in saying the big bucks are in Coles, and it would be fair to say that more resources are being directed that way.

Today's results are encouraging, if not surprising, but I am a little disappointed that the roll out won't be until some time next year. I know these things can't be rushed, but I have been hearing good things and was hoping to give it a look. Would also like to know what the plans are for some kind of loyalty card of some description like WOW's Everyday Rewards card to store fuel vouchers combined with Fly Buys - not sure whether it would extend to Bunnings or not, might be too expensive.