Woolworths, Lowe’s invest $90M in Masters

SYDNEY — Woolworths and partner have injected an additional $90 million into their struggling joint venture Masters Home Improvement, the Sydney Morning Herald reports. At the same time, Woolworths acknowledged that its home improvement losses have ballooned by 33%, including a hike from $176 million to $245 million in losses at Masters. This year, the two companies have pumped a total of $3.22 billion into the venture, up from last year’s $2.9 billion. Woolworths meanwhile remains firm that the chain can become profitable and that it is willing to wait.