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Woolworths Everyday Money Credit Card

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Woolworths plots growth

Woolworths plots growth

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Date Published : Monday, September 29, 2008

Woolworths, the retail giant responsible for the Everyday Money credit card, has revealed details of its growth plans.

Despite reporting strong results in net profit for the year to date, the supermarket firm is keeping its feet firmly on the ground.

Michael Lunscombe, chief executive of the company, said that the ever-evolving market will present new challenges as it seeks to grow each sector the business, the Daily Telegraph reports.

"A key challenge will be striking a balance between maximising efficiencies across the whole of the business while still allowing each division to be the master of its own destiny in terms of performance, as well as having a sense of ownership over its strategy and success," he said.

His comments come after Woolworths published details of a 25.7 per cent rise in net profits for 2008, following an increase in sales of 10.7 per cent.

Mr Lunscombe added that the business has a continuity strategy in place that will allow it to move "confidently but carefully" ahead with any future growth plans.

One of the major developments at Woolworths in recent times was the introduction of its Everyday Money credit card.

The card works by rewarding holders every time they shop at participating retailers. By collecting points for each purchase, users can build up enough to earn an Everyday Money shopping card every four months.

This card is redeemable at stores including all Woolworths and Safeway supermarkets, Woolworths and Safeway Liquor and BIG W stores; as well as certain Caltex Woolworths/Safeway co-branded fuel outlets, Dick Smith Electronics, Dick Smith Electronics Powerhouse, Tandy, BWS and Dan Murphy's stores.

See the latest on the new Woolworths credit card.

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