Damon Mcknight
Woolworths Group is an Australian public company that owns Woolworths Supermarkets, which is Australia's largest supermarket chain with a market share of 32.5% as of 2023. Woolworths Group was first registered in 1924 by five Australian entrepreneurs and has since expanded its business to include other retail brands such as Woolworths NZ, SuperValue, FreshChoice, and Big W. The company has also entered into joint ventures with other businesses and expanded its portfolio to include hotels, hardware stores, and liquor retail outlets. Woolworths Group serves millions of customers every day and is committed to being a responsible member of the Australian and New Zealand communities.
| Characteristics | Values |
|---|---|
| Year founded | 1924 |
| Founder | Percy Christmas, Stanley Chatterton, Cecil Scott Waine, George Creed, and Ernest Williams |
| Current owner | Woolworths Group |
| Headquarters | Sydney, Australia |
| Number of retail outlets | 1,734 |
| Number of Australian supermarkets and Metro convenience stores | 1,111 |
| Number of New Zealand supermarkets | 188 |
| Number of Big W stores | 178 |
| Number of Petstock Retail shops | 257 |
| Net profit after tax in 2023-24 | $1.71 billion |
| Market share as of 2023 | 32.5% |
| Market share as of 2019 | 33% |
| Revenue in 2017 | $119 billion |
| Major shareholders | BlackRock, Vanguard, and State Street |
Explore related products
What You'll Learn
Woolworths Group owns Woolworths Australia
Woolworths, colloquially known as "Woolies", is an Australian supermarket chain owned by Woolworths Group. Woolworths Group is made up of some of the most recognisable and trusted brands in retail, serving millions of customers daily with great choice, low prices, and excellent quality. Woolworths Group was founded in Sydney in 1924 as a variety retailer Woolworths Limited and has traded in every Australian state and territory since 1960.
Woolworths Group experienced steady growth throughout the 20th century and began to diversify its business, closing the last of its variety stores in the 1980s to focus on its portfolio of other retail brands. Woolworths Group currently owns Woolworths Supermarkets, the customer loyalty program Everyday Rewards, and the discount department store Big W in Australia. Woolworths Group also owns the Woolworths NZ, SuperValue, and FreshChoice supermarkets in New Zealand.
Woolworths Group has undergone significant consolidation since 2012, divesting its shopping centre, electronics retailing, home improvement, fuel retailing, liquor retailing, and hospitality businesses to concentrate on supermarket retail. Woolworths Group has expanded its portfolio to include hotels and has re-entered the New Zealand market by purchasing the retailer Progressive Enterprises, owner of supermarket brands including Countdown. Woolworths Group has also established joint ventures with companies such as Lowe's, the Commonwealth Bank, and PetSure, and has launched its own credit card in partnership with HSBC.
Woolworths Group is committed to being a responsible member of Australian and New Zealand communities and has set goals to make its operations in these countries run on 100% renewable electricity by 2025. Woolworths Group has also taken steps to reduce its environmental impact, such as removing single-use plastic bags and committing to removing plastic packaging from its products.
Free Doctors in Australia: Myth or Reality?
You may want to see also
Explore related products
Woolworths Group's history
Woolworths Group, formerly Woolworths Limited, is an Australian multinational retail and finance company. It is primarily known for its retail chain Woolworths Supermarkets, which is the largest supermarket chain in Australia, with a market share of 32.5% as of 2023. Woolworths Group also owns the discount department store Big W in Australia, and Woolworths NZ, SuperValue, and FreshChoice supermarkets in New Zealand.
Woolworths was founded in Sydney in 1924 as a variety retailer and entered the New Zealand market in 1929. The company experienced steady growth throughout the 20th century and began to diversify its business, closing its last variety store in the 1980s to focus on its portfolio of other retail brands. Woolworths has since expanded its operations and ventured into different markets.
In 1993, Industrial Equity floated Woolworths on the Australian Securities Exchange, making it the biggest initial public share offering in Australia's history at the time. In 1996, Woolworths entered the petrol retailing market with its wholly-owned "Plus Petrol" outlets. The company expanded its liquor retailing portfolio with the acquisition of Dan Murphy's liquor barn stores in 1998 and established the smaller format liquor retailing chain BWS in 2001. Woolworths also entered into joint ventures with the Commonwealth Bank and Caltex during this period.
In 2004, Woolworths moved into the hotel industry by acquiring 75% of the Australian Leisure and Hospitality Group (ALH) and expanded its portfolio to 250 hotels by acquiring the Taverner Hotel Group in 2005. The company re-entered the New Zealand market that year by purchasing Progressive Enterprises, giving it a 45% share of the New Zealand grocery sector.
Woolworths has continued to grow and diversify its business in recent years. In 2012, the company placed 69 shopping centres it owned into a real estate investment trust known as Shopping Centres Australasia Property Group (SCA Property Group). Woolworths also expanded its operations in China with the acquisition of Summergate, an alcoholic drinks distributor, in 2014. In 2020, Woolworths announced a deal to purchase a majority stake in foodservice distributor PFD Food Services as part of its expansion into the business-to-business wholesale market.
Woolworths Group has also faced scrutiny and challenges. In 2018, the company stopped providing single-use plastic bags, contributing to an 80% reduction in plastic bag use in Australia. However, Woolworths was found guilty of breaching spam laws and underpaying employees in 2020. In 2023, the company faced legal action from the Australian Competition and Consumer Commission (ACCC) over misleading customers on discounts. Woolworths continues to be a significant player in the Australian and New Zealand markets, with ongoing initiatives to expand and adapt to market demands.
Australia-India: A Close Encounter of the Geographic Kind
You may want to see also
Explore related products
Woolworths Group's other businesses
Woolworths Group is a retail group that operates destination and convenience stores, supermarkets, and online shopping sites. The company is divided into three business divisions: Australian Food, New Zealand Food, and Portfolio. Woolworths Food Retail includes Woolworths Supermarkets and Metro, which together form a duopoly in the Australian supermarket industry alongside Coles Supermarkets.
Woolworths Group owns some of the most recognisable and trusted brands in Australia and New Zealand, including:
- Woolworths Supermarkets: The company's premier supermarket chain, which operates in every Australian state and territory. Colloquially known as "Woolies", Woolworths specialises in groceries, magazines, DVDs, health and beauty products, household products, pet and baby supplies, and stationery.
- BIG W: A discount department store in Australia.
- Woolworths NZ: Supermarkets in New Zealand, including the brands SuperValue and FreshChoice.
- Thomas Dux: A gourmet grocer and deli launched in 2008.
- Cellarmasters: An online wine business acquired in 2011 for $340 million.
- Dan Murphy's: Large liquor barns often referred to as Liquor Supermarkets, acquired in 1998.
- BWS: A smaller-format liquor retailing chain established in 2001 to complement Dan Murphy's.
- Australian Leisure and Hospitality Group: A hotel and poker machine operator acquired in 2004.
- Dick Smith Electronics: Sells a wide range of hobby electronic products and consumer goods.
- Foodtown: 20 full-service supermarkets in Auckland, Hamilton, and Tauranga, which were rebranded to Countdown by late 2012.
- Woolworths at Work: An online shopping platform for business consumers launched in 2020, allowing Australian workplaces to shop for fresh food, kitchen and cleaning supplies, and other essentials.
- PFD Food Services: A foodservice distributor of which Woolworths purchased a 65% stake in 2020.
- PetCulture: An online business launched in 2020 in partnership with pet insurance company PetSure, selling pet insurance, food, products, and veterinary services.
- Cartology: Established in 2019 as Woolworths's retail media business.
- Quantium: A joint venture with Woolworths Group offering data science and advanced analytics services.
STI Checks: Free or Fee in Australia?
You may want to see also
Explore related products
Woolworths Group's sustainability goals
Woolworths Group is an Australian supermarket chain and one of the most recognisable and trusted brands in retailing. It was founded in 1924 in Sydney and is currently Australia's largest supermarket chain, with a market share of 32.5% as of 2023. Woolworths has undergone significant consolidation since 2012, divesting its interests in shopping centres, electronics retailing, home improvement, fuel retailing, liquor retailing, and hospitality businesses to concentrate on supermarket retail.
Woolworths Group has set sustainability goals that reflect its commitment to being a responsible member of Australian and New Zealand communities. The company has a Sustainability Committee within its board that oversees the implementation of its sustainable development strategy. Woolworths has disclosed objectives covering relevant sustainability topics, including people, planet, and product.
Under the "people" dimension, Woolworths has set five goals. However, these goals are not associated with time-bound targets, which presents an opportunity for improved reporting in the future.
In terms of the "planet," Woolworths has set four goals. Notably, the company aims to have all its operations in Australia and New Zealand running on 100% renewable electricity by 2025. Additionally, Woolworths has committed to removing food waste from landfill, targeting zero food waste from its operations by 2025.
The company has set five goals under the "product" dimension. Woolworths has disclosed a process for identifying and prioritising its most relevant sustainability topics through a materiality matrix, which identified 11 material issues.
Sending Money Overseas: A Guide for Australians
You may want to see also
Explore related products
Woolworths Group's legal issues
Woolworths Group Limited is an Australian multinational retail and finance company, primarily known for operating its retail chain Woolworths Supermarkets across Australia, Woolworths in New Zealand, and its discount department store Big W. Woolworths Group has faced several legal issues in recent years, including allegations of underpaying employees, breaching spam laws, and misleading customers through discount pricing claims.
In 2019, Woolworths admitted to underpaying 5,700 of its employees by up to 300 million dollars from 2010 to 2019. The Fair Work Ombudsman (FWO) launched legal action against Woolworths, alleging that the company had underpaid 70 employees by a total of A$1.17 million from March 2018 to March 2019. The FWO claimed that Woolworths failed to ensure that annual salaries were sufficient compared to the actual hours worked.
In July 2020, Woolworths was found guilty of breaching spam laws in excess of 5 million times and failing to unsubscribe customers from their mailing lists when requested. The Australian Communications and Media Authority (ACMA) fined Woolworths $1,003,800 for the violation.
In September 2024, the Australian Competition and Consumer Commission (ACCC) brought legal action against Woolworths, accusing the supermarket of misleading customers on discounts through their 'Prices Dropped' promotions. The ACCC alleged that Woolworths offered certain products at regular prices for at least 180 days, temporarily increased the prices by at least 15%, and then placed them on the ''Prices Dropped' promotion at higher or the same prices as the original regular prices. Similar allegations were made about the pricing of an Oreo Family Pack.
Woolworths has also faced scrutiny for its business practices, including its expansion into the hotel industry in 2004 by acquiring the Australian Leisure and Hospitality Group (ALH) and its joint venture with Lowe's to launch the Masters Home Improvement brand. In 2020, Woolworths announced a deal to purchase a majority stake in the foodservice distributor PFD Food Services, expanding into the business-to-business wholesale market. Additionally, Woolworths has been criticised for its environmental impact, particularly its plastic bag use and packaging.
Australia's Political Stability: Evading Government Shutdowns
You may want to see also
Frequently asked questions
No, Woolworths is not 100% Australian-owned. Woolworths Group, the company that owns Woolworths, is substantially controlled by the world's three largest US-based investment funds, BlackRock, Vanguard, and State Street. These investment funds own about 82% of the US S&P 500's market capitalization and have quadrupled their collective ownership stake in the 500 largest US stock exchange-listed companies over the past two decades.
Woolworths Group is owned by the world's three largest US-based investment funds, BlackRock, Vanguard, and State Street. Their Woolworths shares are held through other banks and financial operators, including HSBC Custody Nominees, JP Morgan Nominees Australia Pty Limited, Citicorp Nominees Pty Limited, and BNP Paribas Nominees.
Yes, Woolworths is an Australian company founded in Sydney in 1924 as a variety retailer. Woolworths has since expanded to become Australia's largest supermarket chain, with a market share of 32.5% as of 2023. Woolworths currently operates 1,734 retail outlets, including 1,111 Australian supermarkets and Metro convenience stores, 188 New Zealand supermarkets, 178 Big W stores, and 257 Petstock Retail shops.
