- Woolworths hosts analysts tour of Masters store
- Initial reactions mixed
- Citi suggests currency guidance for Masters is conservative
- Brokers ratings for Woolworths unchanged

By Chris Shaw

Woolworths ((WOW)) has opened its first Masters home improvement store in Braybrook, Victoria, and the company has hosted an analysts tour that has provided some first impressions of the new competitor to sector heavyweight Bunnings ((WES)).

Citi's first impressions of the store were positive, particularly with respect to the product range and store format. One concern was the trade area, something Citi sees as important given trade represents about 50% of sales in the industry.