Sydney Big W Stores Among First Shut
Embattled discount department store, Big W, has revealed the first batch of its store closures, with three Sydney outlets among the first to go.
Reported by The Australian, Big W staff were briefed this morning, with stores in Sydney’s Chullora, Fairfield and Auburn to close in January 2020.
The news comes as parent company Woolworths seeks to turnaround the flailing retailer – amid pressure from ALDI and Kmart – following several periods of losses.
Back in April, reports broke that Big W would shut one third of its 183 stores, with Woolworths Chief Executive, Brad Banducci, previously not ruling out a sale of the discount retailer.
The company has committed to “support” its team, and explore redeployment staff opportunities where feasible.
In May, Big W reported a 7.4% lift in Q3 same-store sales, however, warned profitability remained a challenge.
The retailer post a $110 million full-year loss for fiscal year 2018, following a $151 million loss the year prior.