AUSTRALIA: Woolworths Q3 sales rise 17.4%, raise earnings outlook
Leading Australian retailer Woolworths posted a 17.4% increase in Q4 sales today [Monday] and hiked its earnings outlook for the 2001-2002 financial year. Sales in Q3, which ended 31 March, rose to A$5.69bn (US$3.0bn), in line with market forecasts. The supermarket operator's gung-ho stance on cost-cutting and the acquisition of a number of Franklins supermarkets boosted sales.
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