Last year, it dodged reports it was selling Big W - now Woolworths has divested in another discount department store.
The company has sold its 8.8 per cent stake in New Zealand retailer The Warehouse Group.
Woolworths sold its shares for $84.1 million, less than half the price it paid in 2006.
The move means the company will not enter the New Zealand discount department store sector and replicate its Big W business.
It will instead focus on sales via its e-commerce platform EziBuy, which was acquired for $338 million two years ago and has been merged with Big W.
Last year, Woolworths categorically rejected reports it was placing Big W on the selling block.