Australian supermarket chain Woolworths has agreed to offload its remaining 4.1% stake in Endeavour Group, the owner of liquor store chain Dan Murphy's and BWS bottle shops. 

The move marks the end of Woolworths' long-standing relationship with Endeavour, three years after the spin-off. 

Woolworths will sell its remaining stake via a block trade for A$5.23 apiece to generate A$383m ($258.75m). 

It plans to use the proceeds from the sale to finance the acquisition of the remaining 35% stake in PFD Food Services. 

Woolworths had initially merged its hospitality and liquor operations into Endeavour Drinks in 2019, retaining an 85% stake post-spin-off.  

Since then, Woolworths has been reducing its share in Endeavour, including a significant A$636m stake sale in 2022, as part of its strategy to transition from ownership to partnership. 

In May 2024, the retailer also divested another 5% of Endeavour for A$468m.  

In a separate development, BIG W, the discount department store chain owned by Woolworths, is revamping its clothing ranges. 

The overhaul follows an 18-month journey of customer, industry and quality research.  

In response to customers' opinions on garment fit, the retailer has launched 82 new and improved products across women’s and men’s basics.   

The product development teams of BIG W are collaborating with real customers and team members to discover improvement opportunity on fit, size consistency and the comfort of clothing. 

Woolworths reported total sales of A$67.92bn ($46.09bn) in fiscal 2024 (FY24), up 5.6% and 3.7% on a normalised basis compared to A$64.29bn in FY23.