Woolworths Ltd has said its focus on delivering low prices through its supermarket business allowed Australia’s largest retailer to grow sales during the first half of its financial year.
The grocer said today (6 February) group sales rose 3.8% to A$30.8m (US$27.6m) during the 27 weeks to 5 February.
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Supermarket sakes rose 6.2%, driven by a 15.2% increase in revenues from the New Zealand supermarket division. The New Zealand result was inflated by currency exchange and sales were up 2.6% in New Zealand dollars.
Sales from Woolworths’ core Australian food and liquor business rose 4.8%, despite food deflation of 4.1%. CEO Grant O’Brien attributed the gain to Woolworths’ commitment to delivering low prices through its “more savings every day” programme.
“Customers enjoyed the benefits of our market leading positions in price and range,” O’Brien said. “The competitive market and value conscious shoppers are ensuring that we must continue to work hard to deliver the value that our customers seek.”
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By GlobalData
