Former Countdown boss Dave Chambers, now Woolworth’s director of supermarkets in Australia, has said he is not only changing its pricing policy but forecasting a possible format change under three different styles.

The company is now following a lean retail model after reporting a poor result for the year to June. Currently the company has nine different store formats and these are likely to be reduced to four models of premium, mainstream, rural and budget. It will also add in around $65m over the next year for improving shelving, lighting, signage, flooring and trolleys.