Woolworths Plans Write-Down of New Zealand Unit As Business Slumps

Australian grocer Woolworths said it would recognize a large write-down of its New Zealand food business in its coming half-year result because of a weaker medium-term market outlook.

Australian grocer Woolworths said it would recognize a large write-down of its New Zealand food business in its coming half-year result because of a weaker medium-term market outlook.