Woolworths Profit Falls as New CEO Pivots Group Toward Food

Woolworths is refocusing the group around its upmarket South African food operations, elevating the best-performing division as CEO Sam Ngumeni aims to revive growth after annual profit declined. The strategy shift signals management is prioritizing turnaround momentum, though the lack of disclosed financial magnitudes keeps near-term confidence cautious. Investors may view the repositioning as supportive if food outperformance persists, but the profitability trend has been a headwind.