Roger Corbett, CEO of leading Australian grocer Woolworths, said the company remains on track to report double-digit growth in full-year net profits.
Go deeper with GlobalData
Annual percentage sales growth is expected to be in high single digits, and shareholder returns are predicted to continue to grow.
The ‘Project Refresh’ cost-efficiency programme has turned its focus to making savings in Woolworth’s supply chain and logistics operations, Corbett said.
In a statement to the Australian Stock Exchange, Corbett confirmed plans to open 15 to 25 new supermarkets a year for the foreseeable future. The group has launched some smaller stores based on the Big W discount format, and this is proving popular with customers in rural areas. Accordingly, Woolworths plans to open 40 more rural stores, reported Reuters.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalData
