Companies in the midst of a turnaround, such as Woolworths and Domino’s Pizza, have been put on notice by the market following the most brutal earnings season for the ASX on record, after the management teams frustrated investors with their lack of progress in delivering on their strategies.
Share prices swung violently in August depending on whether a company’s result was able to meet the lofty expectations of a sharemarket already trading at a record high. Blue chips CSL and grocery giant Woolworths lost billions of dollars in value while global players from James Hardie to Reece stunned the market with bad news.
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