AUS: Woolworths gains amid focus on price, range
Woolworths enjoyed "solid" H1 profits
Woolworths Ltd, Australia's largest retailer, said today (28 February) its core business had made gains in basket size and traffic in the first half of its financial year through a focus on prices and its product range.
The grocer, facing stiff competition from arch-rival Coles and with Aldi expanding in Australia, said its Australian food and liquor had "increased market share, customer numbers, basket size, items sold and sales per square metre" in the 27 weeks to 5 January.
Sales from food and liquor were up 4.8% at A$21.48bn (US$19.42bn). Comparable-store sales increased 3%, with a 3.4% rise in the second quarter. EBIT climbed 6.8% to A$1.69bn.
"We have delivered 6.8% EBIT growth in our Australian food and liquor business, consistent with our priority to extend our leadership in food and liquor," which has been achieved in a highly competitive marketplace," CEO Grant O'Brien said.
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