Woolworths Group Reports Sales Increase

Australian grocer Woolworths Group has announced that overall group sales increased in its fiscal first quarter. The customer trends observed were consistent with the previous quarter, and the prices of food items continued to moderate.

In the 14 weeks leading up to October 1st, Woolworths reported total group sales of 17.22 billion Australian dollars (US$10.94 billion), representing a 5.3% increase compared to the prior year.

Australian Food sales rose by 6.4% to A$13.08 billion, while New Zealand grocery sales saw a 2.8% increase in local currency.

Despite the resilience in customer trends, some shoppers have been more focused on value across all product categories.

Looking forward, Woolworths has strong plans in place for the upcoming Christmas and holiday trading period. While sales trends have remained consistent with those of the first quarter, the trading environment remains uncertain. Therefore, providing value for money remains a key focus for all their customers.

In contrast, discount department store Big W experienced a 5.5% decrease in sales for the first quarter, amounting to A$1.13 billion. However, there was a modest improvement in sales towards the end of the quarter. The success of the half will depend on the performance during the upcoming Christmas trading period, according to Chief Executive Brad Banducci.

Regarding Woolworths’ food businesses, inflation has continued to moderate over the quarter, largely due to lower prices in fruit and vegetables, as well as meat.

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