Company Overview: Woolworths Group Limited (ASX: WOW)
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Woolworths Group Limited |
Headquartered in Bella Vista, Sydney, Woolworths Group Limited (ASX: WOW)
is an Australian trans-Tasman retailer with extensive operations throughout
Australia and New Zealand. It was initially founded as a variety retailer in
1924, and eventually, in 1929, the company entered the New Zealand retail
market. According to a resource, Woolworths is one of the biggest companies in
Australia concerning revenue.
During the 20th century, Woolworths Group Limited (ASX: WOW) rapidly grew as a
company and began to diversify its business in Australia and New Zealand. Ever
since 1960, Woolworths has marked its presence in every state and territory in
Australia. In 1980, the company decided to shut down a few of its various
stores and determined to focus primarily on its portfolio of other retail
brands.
In 2012, the company experienced significant consolidation. After that, the
company divested its shopping centre, home improvement, liquor retail business,
electronics retailing, retail fuel business & hospitality business and
decided to flourish in the supermarket retail business. At present, the company
owns Woolworths Supermarkets, a discount department store Big W, a customer
loyalty program Everyday Rewards, Countdown, SuperValue and FreshChoice
supermarkets in New Zealand.
With a market capitalization of $41. 43 billion, the company listed on the
Australian Securities Exchange on 12th July 1993 under the ticker ‘WOW’. As of
28th November 2022, the ASX WOW share price is $34. 040.