Mar 20, 2018 Last Updated 3:26 PM, Mar 20, 2018

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Woolworths plans cost reductions

AusBN – Woolworths (ASX: WOW) has announced plans to execute a lean retail operating model over the next three years.

The model will focus on improving customer experience as well as lowering prices and improving convenience, service and access.

Woolworths hopes that the new strategy will help it to deliver more than A$500 million in cost reductions.

Company CEO Grant O’Brien said: "Woolworths is leveraging unique data assets to drive new insights and competitive advantage not available to other retailers.

“Ultimately, that will drive our focus on the customer by making all decisions across the business, starting from the customer perspective, using data on their actual needs and behaviour, rather than surveys and state behaviour.

"Woolworths is Australia's largest domestic online retailer, and our fleet of 3,699 stores will continue to be harnessed to add new convenience and flexibility for our online customers in how they interact with us." 


BP invests $450m in new service stations

AusBN – Oil giant BP has announced plans to invest A$450 million in the opening of 60 new service stations across Australia over the next three years.

Funds will be acquired from the money that was previously spent on the company’s Bulwer refinery.

The company will also undertake nationwide refurbishments of 1,400 BP branded sites.

BP Australia president Andy Holmes said:“Last year we stepped up the spend to $150m.

“And our plans are to continue doing that for several years to come with the aim of improving the quality of the retail sites that we have, but mainly extending the network and opening new ones.

“It is very much the big urban centres in the east and around Perth. We focus on the major roads and the motorways and truck stops.

“That is where our investment in new sites is going: the Melbourne, Brisbane, Sydney and Perth areas and on the major highways.’’



Microsoft to open Sydney store

AusBN – Microsoft (NASDAQ: MSFT) has announced plans to open its first flagship store outside of North America in Westfield Sydney.

The new Pitt Street Mall store will serve as a showroom where people can try out products such as Xbox consoles, tablets and Windows PCs.

An “answer desk” will also be located within the store and customers can use to ask employees about Microsoft products.

This is the company’s first attempt to bring its flagship retail ambitions into the Australian region.

Microsoft has also committed to the support of local communities by volunteering its staff’s time, conducting workshops and supporting science and technology education.


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