Woolworths looks East to improve range

Woolworths is increasing the amount of product it sources from the Far East as it bids to manage its margins better and improve its range.

The general merchandise retailer has ordered 10 per cent more products through its Hong Kong office during the past six months. Woolworths chief executive Trevor Bish-Jones said the Hong Kong hub is an essential part of the retailer's push in homewares.

The retailer launched its stylish but affordable 'My Home' range in November, with several lines coming from the Far East.

A spokeswoman for Woolworths said: 'It's about better margin management for Woolworths going forward, which is key to delivering the continued transformation of the business.'

Last week, Woolworths announced a 94 per cent increase in pre-tax and exceptional profits to£49.8 million.