Woolworths refutes imminent Caltex sale

woolworths caltex petrolWoolworths has asserted that no deal is done yet, in response to speculation it is about to sell off its petrol business to Caltex.

The supermarket giant said it is currently evaluating whether or not to dispose of the Petrol business.

Woolies said it has received a number of incomplete and conditional proposals from several parties in relation to the purchase of the petrol business.

It also said it had received proposals for the “development of an enhanced convenience and loyalty offer to its customers” in a statement.

Recently in its full-year results update, Woolworths said petrol sales were $4.6 billion, a decrease of 18.1 per cent on the previous year.

The conglomerate said sales were impacted by changes to the Woolworths – Caltex alliance in FY15 where sales from 131 Caltex operated sites were no longer recognised by Woolworths, and declining average fuel sell prices.

Access exclusive analysis, locked news and reports with Inside Retail Weekly. Subscribe today and get our premium print publication delivered to your door every week.

Comments

Comment Manually

I have read and agree to the Terms and Conditions and Privacy Policy.

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Inside Retail Polls

What is your business doing to become more sustainable?
Vote

Twitter

Despite declining house prices and modest wage growth, Australian consumers have pushed spending growth to a 14 mon… https://t.co/Mgg6QeqrvC

3 days ago

Australians are predicted to spend $3.4 billion across #retail this #Easter, according to the @OZRetailershttps://t.co/X9ShvwYfZt

4 days ago

Retailers are preparing for increased consumer footfall this week as the #Easter rush begins #retail #eastertradinghttps://t.co/i1ziisLub0

5 days ago
x

SUBSCRIBE
FREE NEWS BRIEFS Get breaking news delivered