Company News Summary
Woolworths Announces First Quarter Sales Results
Original announcement: First Quarter Sales Results
Woolworths announced first quarter sales results. Australian Food sales increased by 1.7% to $9.3bn for the 14 weeks of the first quarter of FY17 compared to the previous year. Comparable sales increased by 0.7%. Average prices declined by 1.9% driven by material price reductions in groceries and bakery compared to the same quarter in 2015. Petrol sales for the quarter of $1.2bn were 11% below the prior year, impacted by a 13.9% reduction in average fuel sell prices to 113.2cpl. Endeavour Drinks Group sales increased by 3.8% to $2.0bn in Q1'17 compared to the 2015 with comparable sales increasing by 1.8%. NZ Food sales for the quarter were NZ$1.6bn, an increase of 1.9%1 on the 2015. BIG W sales of $880m for the quarter decreased 5.5% on the 2015 with comparable sales decreasing by 5.7%.
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