AUS: Woolworths records Q3 sales lift
Woolworth's sales were boosted by targeted offers
Australian retailer Woolworths Ltd has recorded an increase in third-quarter sales, boosted by targeted offers and a "sharpened focus" on its core business.
In the three months to the end of March, sales from continuing operations climbed to A$14.4bn (US$15.2m), an increase of 5.7% on the previous year, or by 5.2% if Easter sales were not included.
Revenue from Woolworths' core Australian food and liquor division were up 5.6% at A$9.42bn. Sales grew 4.9% when adjusted for the impact of Easter. Comparable-store sales increased 3.8%, or by 31.% excluding the impact of Easter.
"The momentum of the first half has continued into this quarter as a result of a sharpened focus on our core businesses and early results from work on our strategic priorities. While this progress is pleasing, there is still a lot more work to do in transforming our business," said CEO Grant O'Brien.
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