• 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

    The HR department must define the job requirements, advertise the position, sort though the applicants and choose the best candidates effectively and efficiently. However this process can be very complex, expensive and time consuming but to choose the best suitable, the HR has to gather enough information.

  2. English for business

    at the right P ....... presented in the most attractive way ( P.....) and available in the easiest way ( P......). 3. What is a product? It is something customers buy to...... a ........ they feel they have. The .......

  1. Business Studies

    principal (matching principal = value of depreciation to the fall of the asset each year) > The financial manager can also not record all types of intangible[ET7] assets > Good will [ET8]is an intangible asset it can be included on the balance sheet if it is being bought or sold

  2. Business studies - Business Plan

    The supplies I will be needing I will have to buy from wholesalers as I can not make big enough orders to buy straight from the producer even if I could the supplies would most likely go waste before I could them so it would make more sense for me to be buying from a wholesaler.

  1. Business Studies Edexcel Coursework

    damaged by the weather, and with flyers; a lot will be wasted since not everyone who reads the free council magazine is a potential customer - this makes it extremely difficult to target the desired audience. Transport media Errol will certainly need a van for his line of business; and

  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. Importance of Human Resources Management

    cars, this would also increase costs, but at the same time it will increase the rate of production. This can affect the costs of the Ford pretty by large amount. The Human resources plans could really help this situation because they tell us the overall financial position of the company

  2. Applied Business Unit 1

    They achieve this by keeping updated with the market trends and the demand of the customers and keeping ahead of other competitors, and use honest and truthful methods and attitudes. Their aims and objectives are on track by the following methods, Sole Trader This type of ownership is basic and consists of a single owner.

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