0213 GMT - Endeavour's bottle shops appear to be experiencing stock shortages due to ongoing industrial action at Woolworths' distribution centers, Citi analyst Sam Teeger warns. He tells clients that BWS and Dan Murphy's stores in Victoria state are being hit, with anecdotal evidence from site visits that some haven't received deliveries in the past two to three weeks. The shortages are most apparent among beer and cask-wine products, he adds. Woolworths has sold down its stake in Endeavour since spinning off the drinks business in 2021, but Endeavour still uses some of the supermarket giant's distribution centers. Citi has a neutral rating and A$4.89 target price on Endeavour shares, which are down 0.6% at A$4.375. (stuart.condie@wsj.com)
(END) Dow Jones Newswires
December 04, 2024 21:13 ET (02:13 GMT)
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