Woolworths Group Ltd (AU:WOW) has released an update.
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Woolworths Group has successfully reached new enterprise agreements at four distribution centers in Victoria and NSW, reopening them after a period of industrial action. These agreements, endorsed by the United Workers Union, promise wage increases of around 11% over three years and address team performance metrics, ensuring safety and operational efficiency. Despite these positive developments, the company reports a significant financial impact from disrupted sales, estimating a $50-60 million hit to Australian Food EBIT, with further effects anticipated in the lead-up to Christmas.
For further insights into AU:WOW stock, check out TipRanks’ Stock Analysis page.
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