Woolworths consolidates subsidiaries

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Woolworths like other retailers is expanding its footprint on the continent as urbanisation and rising affluence fuel a boom in fast-growing cities.

JOHANNESBURG - Woolworths is combining its Country Road and David Jones subsidiaries into a single unit.

The retail giant says this will unlock the benefits and synergies of the Australian acquisitions.

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The move comes after David Jones’s headquarters was moved from Sydney to Country Road’s Melbourne base.

Woolworths says the consolidation will not result in job cuts.

The combined head office workforce will increase from 1,300 to 1,500.