Woolworths expects full year earnings could be 2.7 per cent lower after it outlined one-off charges worth $591 million for restructuring and staff underpayments and incurs additional costs related to COVID-19.
The retail giant said it expects full year earnings before interest and tax (EBIT) to be in the range of $3.2 billion to $3.25 billion, compared to $3.29 billion last year.
The biggest hit will be sustained in its Endeavour Group hotels and drinks business, with earnings expected to slide more than 50 per cent to between $160 million and $170 million, as venues stayed shut on account of coronavirus lockdowns.
It will also incur costs of $230 million towards restructure of the Endeavour business, which it originally planned to de-…
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