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Woolworths' $1 Billion Charge for NZ Business
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Woolworths plans to take a $1 billion charge for its New Zealand business, citing weak market outlook and a review of its stake in local retailer Endeavour Group. The company expects to report first-half unaudited EBIT between A$1.68 billion and A$1.70 billion, with strong performance from its Australian Food business and food distributor PFD Food Services.
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How could the derecognition of equity accounted investment affect Woolworths' financial reporting?
How might the weak market outlook in New Zealand impact Woolworths' overall business strategy?
What are the implications of the review of Woolworths' stake in Endeavour Group for the local retailer?
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