Business
Woolworths bets on sobering up when it quits hotels, pokies and booze – Sydney Morning Herald
Whether by design or accident, the demerger of its liquor and hotels business will boost Woolworths’ wholesome image. But the company has always said the move was…
But Woolworths has always argued the move was driven by strategic reasons rather than a desire to jettison the less ethical and social assets in its portfolio.
It said that the bottle shop assets had traditionally played second fiddle to the larger supermarket division when it came to capital allocation, so once separated they could be capital-nurtured.
Additionally, Woolworths says that separating liquor and hotels would allow investors to make a choice – food or booze and pokies.
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