Off Topic but for a good cause

Ah..there's a bit of a difference between SALES & PROFITS. Then there will be the small print- like, they meant only NETT profits, and ya da ya.
Woolworths doing something for the community?? there's gotta be a catch!!

I'm all for helping anyone in need. WW effort is a publicity stunt to try and regain some credibility with Australian public. Any money they 'donate' will be immediately subtracted from their annual figures as a TAX DEDUCTION. They are not giving away anything. Someone on another forum pointed out, very sucinctly that Tuesday would have to be one of the quietest trading days of the week. So much for their generosity.

Are you guys serious?????
First fom FACTS:
Last financial year the Woolworths Group made a NPAT (net profit after tax) of $1.03B ($1,030,000,000) on revenue of $37.7B. This is a profit on sales of 2.732%. A lot of money admittedly, but nothing like the numbers quoted above. And those of you in business would know that these are skinny margins in % terms.

If they trade 363 days per year (this is close to right, but not certain), one days trade is, on average about $2.84 million. Given a bit of growth since last year, $3 million is probably close to right, perhaps a bit high.

There are approx 323,000 shareholders in Woolworths, many of them are small investors with less than 1000 shares. Indirectly, the overwhelming majority of posters on this forum would be indirect shareholders via super funds. It is your maoney they are giving away.

This is a wonderful gesture by a great Australian company. Sure, within the context of it's total profit it might be small. But $3 million is still a lot of money. With the reaction I see here, you would wonder why they would bother. Perhaps this is why most companies don't do this sort of thing. If they do nothing, they stay below the radar. If they try to do something good, they are critisised for being mean and not doing enough. No wonder most of them do nothing.

Good on you Woolworths. I just hope you ignore the nonesense from those who suffer from 'tall poppy syndrome'. I hope this is the start of a regular contribution back to the community and that you encourage a few more big companies to follow suit.

Hi all
I have worked for Woolies and a couple of really big multinational ones and the amount of work they do for charities would blow you away and not just money, time and effort in running them and with training and a whole lot of non taxable stuff that does not show up on the books. If you ask them why they don't tell anyone it is because off responses that you read here, as they have all told me we have the ability to help so we should, remember the people running these companies are really just like us.

Have fun

Craig

Lets help out our fellow aussies in their time of need ....it's far too late for a lot of the aussie growers/farmers who have simply gone out of business thanks to WW and other large profit driven organisations.

Why have WW recently introcued a new line WW SELECT to their shelves. I know why, at least 80% profit/mark-up on every item and most of them are produced either overseas or with imported products. Gee you WW supporters must be real proud of THIS GREAT AUSTRALIAN COMPANY

After the way WoolWorths railroaded Maleny I'll NEVER shop in one of their stores again.