Australia’s largest retailer Woolworths Ltd posted a 7.5% increase in full-year sales today (22 July), boosted by accelerating growth at its domestic supermarkets.
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Sales increased to A$49.6bn (US$9bn) for the 52-week period to 28 June.
Despite the global economic turmoil, CEO Michael Luscombe said fiscal 2009 has been a “successful year with solid results” across its business overall.
“Woolworths continues to reinvest in all its businesses to improve stores, create jobs, add services, deliver value, and create an even better experience for our customers.”
The company’s Big W stores saw sales for the full year reach A$4.3bn, an increase of 10.5% over the previous year.
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By GlobalDataAustralian food and liquor sales for the year were A$32.8bn, an increase of 9.6% over last year with comparable sales for the year increasing by 7.4%.
New Zealand supermarket sales for the year were A$4bn, a 3.9% increase over last year.
“Continued solid sales growth in food retailing and especially in discretionary areas like apparel, consumer electronics and homewares, highlights the underlying strength of the Australian economy in these times,” Luscombe said.
