Let's look over at some facts..
Sales good since taking over Australian Leisure and Foodland and will continue to be steady.
Bad news..
Debt has risen from $164 million 18 months ago to $3.4 billion.
Woolworths now has to DIVEST to pay off some of its debt, this means Woolies will sell its distribution centres for some $846 million to pay off some of its debt.
These distribution centres has generated savings of $3.6 billion over the past five years, some 5% of WOW's sales over the same period.
Woolworths will not acquire any more companies for a long time therefore it will need to depend on genuine organic growth. AT current prices Woolworths is paying a 2.8% dividend at 24 p/e and has to DIVEST.
My gooness, Woolworths is shaping up to be the short of the decade... oh, I almost forgot, Corbett retires this year too..
mmmmmmmmmmmmmmmmmmmmmmmmmmm
expensive and in debt
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