Woolworths Group has announced that approximately 30 BIG W stores are set for closure over the next three years and two distribution centres (DCs) will close at the end of their leases. The two DCs are Monarto in South Australia and Warwick in Queensland.
“This decision will lead to a more robust and sustainable store and DC network that better reflects the rapidly changing retail environment. It will accelerate our turnaround plan through a more profitable store network, simplifying current business processes, improving stock flow and lowering inventory,” Brad Banducci, Woolworths Group CEO said.
In an announcement Woolworths that the review was undertaken to help BIG W maintain a strong and profitable store network where all stores can make a strong contribution to BIG W’s profit over the longer term.
Potential store closures represent approximately 16% of the current store network with a remaining average lease tenure of approximately 10 years.
The two impacted DCs (Monarto, SA and Warwick, QLD) will therefore be closed in F21 and F23 respectively.