June 23 (Reuters) - Woolworths Group Ltd (WOW) : WOOLWORTHS...

June 23 (Reuters) - Woolworths Group Ltd (WOW) :

• WOOLWORTHS SEES F20 EXPECTED PRE-TAX SIGNIFICANT ITEMS OF $591 MILLION
• WOOLWORTHS SEES F20 EBIT BEFORE SIGNIFICANT ITEMS EXPECTED TO BE $3,200 - $3,250 MILLION
• PLANS TO DEVELOP TWO NEW AUTOMATED DISTRIBUTION CENTRES AT MOOREBANK IN NSW
• EXPECTED TO INVEST $700 - $780 MILLION IN TECHNOLOGY AND FITOUT OF TWO DISTRIBUTION CENTRES OVER NEXT FOUR YEARS
• CONSTRUCTION DISTRIBUTION CENTRE EXPECTED TO BE COMPLETED BY END OF CALENDAR 2023
• TRADING HAS REMAINED STRONG IN Q4 TO DATE
• DECISION TO PROCEED WITH SUPPLY CHAIN TRANSFORMATION WILL RESULT IN ONE-OFF PRE-TAX COST OF $176 MILLION TO BE RECORDED IN FY20
• TOTAL COST ESTIMATED TO COMPLETE SEPARATION OF ENDEAVOUR GROUP REMAINS IN LINE WITH ORIGINAL ESTIMATE
• IN H2 FY20, FURTHER $105 MILLION EXPECTED AS COSTS ASSOCIATED WITH ONGOING REMEDIATION EFFORTS
• REMEDIATION COSTS ASSOCIATED WITH PAYMENT SHORTFALLS FOR RETAIL SALARIED TEAM MEMBERS ACROSS GROUP'S RETAIL BUSINESSES
• TOTAL COST OF REMEDIATION IS EXPECTED TO BE ABOUT $390 MILLION
• PAYMENT SHORTFALLS IDENTIFIED FOR SALARIED VENUE TEAM MEMBERS WITHIN ALH HOTELS
• REVIEW IDENTIFIED SALARIED VENUE TEAM MEMBERS WERE NOT PAID IN FULL COMPLIANCE WITH GROUP’S OBLIGATIONS UNDER HIGA
• GROUP REMAINS COMMITTED TO FULLY RECTIFYING ANY PAYMENT SHORTFALLS ACROSS ALL GROUP BUSINESSES AS QUICKLY AS POSSIBLE

Source text https://reut.rs/2BxMzni

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