Leading Australian retailer Woolworths has reported a 12.6% rise in sales for the full year to A$42.5bn (US$36.6bn), with food and liquor sales rising by 9%.
Group revenues for the fourth quarter rose by 9.5% to just under A$10bn, the company said today (10 July)
CEO Michael Luscombe said that net profit for the full year was expected to be up by 25% to 27%. “Across the board, all of our businesses have grown their sales numbers,” he said. “This tells us, numbers aside, that our businesses are delivering both the service and the product offering and the pricing to our customers. And they’re rewarding us by increasingly choosing to shop with us.”
Woolworths’ Australian food and liquor sales for the full year rose by 9.0% to $27.7bn, with comparable sales for the year increasing by 6.6%. For the fourth quarter, the Australian food and liquor division increased sales by 9.7%, and by 8.2% on a comparable basis.
“The further improvement in comparable sales in the fourth quarter is very pleasing and reflects the real acceptance from our customers of our comprehensive offer. On going investment in our price rollback campaign is delivering value to our customers and assisting our growth. In other initiatives to meet our customers needs, we continue to focus on improvements to the quality of our fresh food offer, our store environments and our role in the communities we serve,” said director of supermarkets Naum Onikul.
The company opened 22 new supermarkets in Australia during the year, with 10 opening in the fourth quarter, bringing its total number of supermarkets in Australia to 766.