Woolworths (ASX:WOW) defers spin-off of Endeavour drinks

Company News

by Rachael Jones

Woolworths (ASX:WOW) has deferred the separation of Endeavour drinks spin-off until 2021.

CEO Brad Banducci has closed the group's hotels business in line with federal government directives to shutdown non-essential business.

In recent weeks, sales growth across the Group’s retail businesses has been strong (with the recent exception of Hotels).

They are not able to provide a 2019-20 Covid-19 impact estimate at this time.

Shares in Woolworths (ASX:WOW) are trading 0.93 per cent lower at $36.11. 

Rachael Jones

Finance News Network
Rachael comes to FNN after working for Fairfax Media covering international breaking news, including the global economy and politics. She joined FNN in February 2018. She has reported on Australia’s finance news for various organisations since 2000 and has also interviewed a number of key business players, including Bill Gates. Rachael has also worked across a number of countries, including the UK and the US.