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Woolworths – Market Expectations Factor in A Significant Reversal of Fortunes in FY17

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Woolworths – Market Expectations Factor in A Significant Reversal of Fortunes in FY17

On 25 July, Woolworths provided a trading update that guided the market slightly lower on FY16 earnings. Given the negative sentiment surrounding the company, this was viewed as a positive outcome, and Woolworths’ share price appreciated 8.2 per cent on the day. Since then, Woolworths’ share price has drifted back 4 per cent, but remains well above its recent low of A$20.50 on 6 July.


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Stuart Jackson is the Portfolio Manager of The Montgomery [Private] Fund. To invest with Montgomery domestically and globally, find out more.

Stuart is the Portfolio Manager of The Montgomery [Private] Fund. Stuart joined Montgomery in 2015 after spending 19 years in research roles with JP Morgan in Australia and in New York. Stuart was appointed Executive Director at JP Morgan in 2005 and for 8 years was Deputy Head of Research. Prior to this he worked as an analyst in the Australian Equities team at Bankers Trust Asset Management for 3 years. Stuart is a CFA® charterholder.


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This post was contributed by a representative of Montgomery Investment Management Pty Limited (AFSL No. 354564) and may contain general financial advice that is prepared without taking into account your personal objectives, financial circumstances or needs. Because of this, before acting on any of the information provided, you should always consider its appropriateness in light of your personal objectives, financial circumstances and needs and should consider seeking advice from a financial advisor if necessary.


  1. I note that Sally Macdonald, former CEO of Oroton and highly regarded by Roger Montgomery, took the helm at Big W in January. She is making some dramatic changes especially with regards to product sourcing. Do you believe she can make a meaningful difference to the business and at least stop the bleeding? If so, could it make a material difference to WOW’s numbers?

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