• Join over 1.2 million students every month
  • Accelerate your learning by 29%
  • Unlimited access from just £6.99 per month

Woolworths - business introduction

Extracts from this document...


Introduction The business I have chosen is Woolworths Group Plc. I have chosen this company mainly because of its very active performance over the past decade. The English branch of the originally Pennsylvania founded Woolworths stores, F W Woolworth & Co, Ltd was founded by Frank Woolworth in Liverpool, England in 1909. The British branch of the Woolworths chain started with two men; Frank Woolworth who traveled to England from America in 1890. Frank himself claimed he had traced his family back to the 'Wooley' family of Cambridgeshire. Frank fell in love with England and its culture and soon aspired to bring the Woolworths name to Europe. When at a Stoke on Trent train station, Frank Woolworth met a young freight clerk, William Lawrence Stephenson who deeply impressed Frank with his 'can-do' attitude. Frank invited William several years later to be the director of his company in which he accepted. ...read more.


The stores now house the larger 20/20 format which means more space and more customer attraction. Woolworths claim to have 26,000 retail employees within the UK which operate in the UK and Ireland. Woolworths Group Plc financial status Woolworths are currently generating an annual turnover in excess of �1.1 billion (taken from 2006 financial year report). Woolworths Group Plc gross profit from the last five years after taxation; * 2006 gross profit = �696.0m * 2005 gross profit = �738.7m * 2004 gross profit = �778.8m * 2003 gross profit = �756.3m * 2002 gross profit = �731.0m Woolworths are currently performing poorly. Their adjusted profit fell from �57.7m to �21.8m between the 3rd February 2007 and 28th March 2007. Woolworths other brands including Entertainment UK and Streets-Online have been yielding high profits and doing very successfully. ...read more.


A poor Christmas will result in a tough proceeding year for the business, which can cause doom for the retail chain. December 2006 was a very bad month for Woolworths, especially at such a time where profit is vital. "Woolworths is no stranger to profits warnings, but to issue one so early in the Christmas season suggests a deepening crisis at the embattled retailer," said Nick Gladding, a senior retail analyst at Verdict Research. Woolworths are struggling in the retail market, but are destined to succeed this Christmas with massive opening of many successful stores. Woolworths do retain the role of the main high street, cheap department store and have opened a new online order service. This new online service is competing against other brands but doesn't require such expensive locations and premises and doesn't generate much loss. Competition Woolworths' current retail rivals include: * BHS - British home stores * Tesco * Argos * Debenhams ...read more.

The above preview is unformatted text

This student written piece of work is one of many that can be found in our GCSE Business, Companies and Organisation, Activity section.

Found what you're looking for?

  • Start learning 29% faster today
  • 150,000+ documents available
  • Just £6.99 a month

Not the one? Search for your essay title...
  • Join over 1.2 million students every month
  • Accelerate your learning by 29%
  • Unlimited access from just £6.99 per month

See related essaysSee related essays

Related GCSE Business, Companies and Organisation, Activity essays

  1. Tesco Research

    Operational decisions tend to be highly structured. Role of management To manage is to forecast and plan, to organise, to command, to coordinate, to improve and to control. Planning This describes the formal procedures used in such an endeavour such as the creation of documents, diagrams or meetings to discuss

  2. Business Studies

    data analysis and interpretation Determining information needs > Firstly determines what information is needed - then determine the most appropriate research methods Data collection - primary and secondary Primary data - collected for the specific purpose for which it will be used Secondary - previously gathered for another purpose Primary

  1. Importance of Human Resources Management

    Maslow's Hierarchy of Needs states that it must satisfy each need in turn, starting with the first, which deals with the most obvious needs for survival itself. Only when the lower order needs of physical and emotional well-being are satisfied are we concerned with the higher order needs of influence and personal development.

  2. English for business

    of body language, tone of voice and interpret their significance; to evaluate the message; to respond to it. It is not always the people that are difficult but sometimes it is the situation. Working relationships and environments bring together a whole host of situations for which you cannot always prepare.

  1. Applied Business Unit 1

    Ltd and this will hopefully regain back the market share and customers. Why Asda may change their aims and objectives There are many reasons why Asda may change their aims and objectives this is because it is very large and even a little problem can change their way of running the business.

  2. Business Report

    This will come to a disadvantage to Donald because he will find it hard to find workers. However, due to the recession, Donald may be able to find workers because the unemployment rate of Crawley has increased slightly. * Infrastructure Before Donald sets up his business in Crawley, he must consider how customers will be getting to his shop.

  1. Business studies - Business Plan

    Being up to date I would have all the needed information I need ready for when I need to reference it for example being up to date with stock, creditors and financial accounts you can easily see what is needed and how everything is going within the business.

  2. How can 'A's CD store' successfully promote its new retail outlet in Causeway Bay?

    * To at least break even during the first year, this means that the shop should make a small amount of profit during the first year. * Customers experience, this means to make sure customers that come into your shop will have a happy and comfortable experience while they are at your shop.

  • Over 160,000 pieces
    of student written work
  • Annotated by
    experienced teachers
  • Ideas and feedback to
    improve your own work