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2nd December 2008

City frets over Woolies Christmas

06.10.08

Woolworths has been singled out as one of the most vulnerable listed retailers in the run-up to a Christmas on the high street that could be the worst since the 1970s, reports the Independent.

Philip Dorgan, an analyst at Panmure Gordon, said continuing weak product availability in stores did not bode well for its critical festival trading period. Dorgan said: "We believe that the current retail environment is the worst for more than 30 years, and we see it as a no-brainer that a retailer which seems to be struggling to get stock ahead of its most important trading period represents a risky investment."

He added that Woolworths was trying to improve availability by clearing stock, but is not being helped by the scaling-back of the insurance cover that credit insurers give to some suppliers to trade with the retailer.

Independent

Financial woolworths Home Christmas

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