Australia's Woolworths unveils major restructure
SYDNEY, July 25 (Reuters) - Woolworths Ltd will book restructuring costs of up to A$1 billion ($746 million) as part of a restructuring that will axe 500 jobs and slow supermarket store rollouts, while considering the sale of online retailer Ezibuy, the Australian grocer and department store company said on Monday.
The overhaul at Woolworths comes amid increasing competition from foreign entrants, including German discount chain Aldi .
Woolworths Chief Executive Officer Brad Banducci, who took the top role in February, said earnings before interest and tax from continuing operations, before significant items, would be between A$2.55 billion and A$2.57 billion in 2016.
($1 = 1.3394 Australian dollars) (Reporting by Jane Wardell; Editing by Lisa Von Ahn)
