Woolworths Big Red Book Seeing Red

Despite being hugely popular with shoppers since its launch, Woolworths has admitted that the Big Red Book, its multi-channel retail venture launched in the latter part of 2006, lost between £3 million and £4 million in December.

Trevor Bish-Jones, the Woolworths chief executive, said that the internet and the Big Red Book catalogue had contributed about 9 per cent of sales over the Christmas period, with orders amounting to four times the level which was originally forecast. Addressing the losses, he said that more customers than expected had chosen to have their purchases delivered to a nearby store, for free, and that this had proven costly.

Shares in Woolworths (ticker symbol: WLW) are currently trading at around 33.5p.

However, whatever may be going on the world of high-finance and the like, we can highly recommend the Woolworths website for all kinds of purchases, and if you happen to be in a Woolworths store, then also be sure to check out the Argos-style Big Red Book catalogues.

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