WOW....(pardon the pun)...Big news coming from WOW this morning.

• CEO Brad Banducci to retire in September
• $0.47 Dividend declared
• Key earnings metrics from the announcement this morning with marginally increased EBIT and NPAT from H23
• NZ Food division still struggling
• Big W minor declines in sales but 60% decline in EBIT

I'm reluctant to buy back in at this stage, just waiting for the Senate inquiry to play out to consider dipping my toes back in again.

ABC Coverage on Woolworths and Coles - it's been great for shareholders, but the cat is now out of the bag.

Woolworths specific tactics:

• Woolies sought to boost its profit margins by leveraging economy-wide inflation.
• Woolies requested to share in any price increases granted to its suppliers.
• Consumers ultimately paid more, suppliers did not receive the full price increase, but Woolworths increased its profit margins.

This negative press can't be good, cue public backlash...

Covid-19 lockdowns and dividend expectations the only catalyst driving the share price upwards, now that EDV has been spun off.

Looking to sell over the next few days before WOW reports next week.