Woolworths to boost e-sales and ditch Big W

Woolworths will embark on an online push next year as it bids to become a serious bricks-and-clicks retailer.

The variety chain's management is still formulating plans, but will boost its online range with new and extended categories.

The retailer will also downsize its Big W stores, from an average of 80,000 sq ft (7,430 sq m) to as low as 35,000 sq ft (3,250 sq m), subletting space to other retailers.

Woolies will assess its 21 Big W stores one at a time and will consider disposals. The remaining stores will be rebranded Woolworths.

Woolworths posted pre-tax profits up 32.2 per cent to£69.8 million for the year to January 31. Group sales rose by 3.1 per cent to£2.8 billion.