Roger Corbett, managing director of leading Australian supermarket operator Woolworths, today [Tuesday] reported solid sales in the first quarter.
Corbett told reporters on the fringe of a conference in New York that the group was finding the overall retail environment “really very steady. We’ve got a bit of deflation in fruit and vegetables, and meat, which is quite significant in terms of the overall mix, but our sales are […] very solid for the first quarter”.
Looking forward, Corbett said there was no reason to think that business would not continue in this vein.
Woolworths today confirmed its previous guidance that it expected earnings per share to grow 10-15% to A$0.57-60 (US$0.31-0.33) before goodwill.