New Woolworths CEO has the same old problems

• Woolworths CEO Sam Ngumeni is facing the same challenges as his predecessor, including a stronger South African segment and a lagging Australian division.
• The war in the Middle East has impacted consumer confidence and spending, leading to slower sales growth in the second half of the 2026 financial year, particularly in Australia.
• Woolworths expects its Australian division to return to full-year profitability in 2026, but its full-year earnings are expected to be impacted by various factors, including base effects and unrealised forex losses.